Finance Minister Niramala Sitharaman on Thursday said that the manufacturing sector is contributing significantly to the economy following government initiatives and noted that India’s second-quarter growth this year was the highest in the world. Replying to a short-duration discussion on the “economic situation in the country” in the Rajya Sabha, Sitharaman said there was sustained […]
Walmart’s top executives expressed concerns about the future spending patterns of consumers, stating that financial strain is making them more cautious, Reuters reported on Wednesday. Chief Financial Officer (CFO) John David Rainey observed “unusual behavior” in October that prompted worries about the consumer’s financial health. He clarified at the Morgan Stanley Global Consumer & Retail […]
Good and Services Tax (GST) Revenue collection for November 2023 stands at Rs 1,67,929 lakh crore, recording the highest growth rate of 15 per cent Year-on-Year, an official statement issued by the Ministry of Finance said on Friday. The Finance Ministry said that gross GST collection crossed the Rs 1.60 lakh crore mark for the […]
The Indian economy grew 7.6 per cent during the July-September quarter of the current financial year 2023-24, remaining the fastest-growing major economy. India’s GDP growth for the April-June quarter grew 7.8 per cent. Real GDP or GDP at Constant (2011-12) Prices in Q2 2023-24 is estimated to attain a level of Rs 41.74 lakh crore, […]
India’s GDP growth rate is anticipated to ascend to 7 per cent by 2026, outpacing China’s projected growth of 4.6 per cent, according to a report from S&P Global Ratings titled ‘China Slows India Grows. ‘The report foresees a shift in the growth engine of the Asia-Pacific region from China to South and Southeast Asia. […]
The discrepancy in official trade figures between India and China has widened this year, fueled by an increase in under-invoicing and potential financial losses to the Indian exchequer, despite efforts by tax authorities to address the issue. In the first 10 months of 2023, the difference between China’s reported exports to India and India’s reported […]
Amid the slowing global growth, geopolitical risks and volatile financial conditions, India’s year-on-year (YoY) growth of the gross domestic product (GDP) is projected to moderate sequentially to 7.0 per cent in Q2FY2024. In India, domestic economic activity is being supported by robust agricultural performance, sustained buoyancy in services, double-digit credit growth and healthier corporate and […]
The rating agency Icra has said that the shift in the festive calendar boosted year-on-year (YoY) growth in economic activity to a 13-month-high of 13.3 per cent in October 2023. The Icra business activity monitor- an Index of high-frequency indicators revealed that this improvement was largely driven by a shift in the festive calendar in […]
The US economy continues to display resilience with robust growth throughout the year. The third quarter of 2023, in particular, exceeded expectations with GDP expanding at a strong 4.9 per cent seasonally adjusted annual rate, marking the highest quarterly gain since the fourth quarter of 2021. According to a JP Morgan report, this growth was […]
The market for Indian textiles and apparel manufacturers could reach USD 350 billion by 2030, owing to the long-term positive outlook for the Indian economy and a strong focus on emerging areas such as technical textiles, home furnishing, specialised fabrics and fashion apparel, according to the FICCI-Wazir Advisors report. “The transformational change for the textile […]
