The global credit ratings agency S&P Global on Tuesday retained India’s growth forecast at 6.8 per cent for the current financial year and expressed optimism that the Reserve Bank of India (RBI) would start cutting interest rates in its October monetary policy review. “In India, GDP growth moderated in the June quarter as high interest … Read more
The growth in production of eight key infrastructure sectors slowed down to 6.1 per cent in July this year due to a decline in the output of crude oil and natural gas, according to official data released on Friday. The growth rate, however, is up from 5.1 per cent in June. The growth of core … Read more
As some of India’s big conglomerates in the industrial and energy space see brisk business, they are also witnessing high employee turnover rates, and in double digits, data for FY24 shows. Flagship entities of conglomerates such as Adani, Vedanta, Aditya Birla Group, and Larsen & Toubro (L&T) all have reported a double-digit employee turnover rate … Read more
India will need to undertake more reforms to be able to continue on the path of raising economic growth and to make sure that enough job creation happens in the country, IMF deputy managing director Gita Gopinath said on Saturday. Addressing an event here, Gopinath further said that India will be required to reduce import … Read more
India may take nearly 75 years just to achieve one-fourth of US income per capita, as per a recent World Bank report that offers the first extensive blueprint for developing countries to overcome the “middle-income trap.” More than 100 countries, including India, China, Brazil, and South Africa face serious challenges in becoming high-income countries in … Read more
Global brokerage firm Morgan Stanley expects Finance Minister Nirmala Sitharaman’s upcoming Budget to focus on the government’s road map for ‘Viksit Bharat’ by 2047 and spell out the medium-term plan for fiscal consolidation. “With fiscal prudence guiding the overall fiscal policy stance, we expect the focus to remain on capex expenditure over revenue expenditure and … Read more
Former Reserve Bank of India (RBI) Governor Raghuram Rajan called on India to prioritise the enhancement of its service sector over the expansion of manufacturing to achieve sustainable economic growth and create jobs. Speaking at the Annual World Bank Conference on Wednesday, Rajan argued that manufacturing is not the “holy grail” for India’s economic success. … Read more
In the last couple of years, the demand for retail real estate in India has been vibrant. In 2023, it touched an all-time high of 7.1 million square feet across the top eight cities in India, 47 per cent higher than in 2022, as per data shared by CBRE. With this, several global luxury brands … Read more
The deadly roof collapse at India’s busiest airport is the latest in a string of recent infrastructure disasters in the country, raising safety questions as Prime Minister Narendra Modi spends billions of dollars to improve transportation across the country. Officials at Delhi’s airport canceled operations at Terminal 1 after an outdoor metal canopy collapsed during … Read more