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Now Crisil lowers India’s GDP growth forecast to 6.3%, says slowdown deeper than suspected

Domestic rating agency Crisil on Wednesday cut India’s GDP growth forecast to 6.3 per cent for fiscal year 2020 from its earlier forecast of 6.9 per cent. This comes after the GDP growth was at its slowest in almost 6 years and grew only at 5 per cent in the first quarter. The agency has […]

India’s economy suffers car crash, pain spreads to villages

The narrow lanes in Aliyar and Kasan villages in Manesar, an automotive manufacturing hub on New Delhi’s southern outskirts, would usually be packed on Sundays with migrant workers employed at the nearby plants enjoying their day off, but not anymore.  These are hard times for an area dependent on the fortunes of companies like Maruti […]

India’s fiscal scene never better in 300 years, gives hope of poverty elimination: Murthy

GORAKHPUR: Infosys co-founder N R Narayana Murthy on Thursday said India has for the first time in 300 years an economic environment that breeds confidence and optimism that its poverty can be eliminated.  For the first time in 300 years, we have an economic environment that engenders confidence that we can indeed overcome our poverty and create […]

India’s export basket skews towards services, pulls down trade deficit

India’s export basket is undergoing a silent transformation, a trend that explains why the services sector, which accounts for about half of India’s gross domestic product (GDP), is doing better than other segments of the economy. Latest official trade data released on Wednesday showed how export of services is growing at a robust pace, while […]

India’s car market just had its worst month in 18 years. 1 million jobs are at risk

Just two years ago, India’s huge car market was booming and global players were rushing to invest. Now it’s been slammed into reverse. Sales of passenger vehicles plunged 31% in July, according to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. Read more: https://edition.cnn.com/2019/08/13/business/india-car-sales-slump/index.html SOURCE : CNN (1)

Malaysia could replace Indonesia as top palm oil supplier to India – trade

Malaysia is set to replace Indonesia as the top palm oil supplier to India in 2019 as New Delhi has been charging lower import tax on refined palm oil shipments from Malaysia, giving Kuala Lumpur an edge over Jakarta, trade officials said. Read more https://www.reuters.com/article/malaysia-palmoil-india-idUSL4N24V4A7 SOURCE: REUTERS (6)

Tata pips LIC to become India’s most valuable brand in 2019

The brand “Tata” has become India’s most valuable brand for the second straight year in 2019, according to the Brand Finance India 100 2019 report. Tata’s brand value rose 37% to $19.6 billion as compared to $14.2 billion in 2018, surpassing the combined value of the second and third most valued brands in India. The […]

Will India Become a Superpower? Not Like This

Traditionally, India’s finance minister carries the annual budget to Parliament in an old-fashioned briefcase; photographs of him holding the briefcase up are usually splashed across the front pages the next day. Finance Minister Nirmala Sitharaman, the first woman to hold the post, broke tradition last Friday by carrying her budget in a folded red cloth […]

US has a warning for India over Huawei products

The US has warned the Indian government that companies found supplying equipment or other producs of American origin to Huawei or its units could face punitive action, said people with knowledge of the matter. The May 27 letter send to the Ministry of External Affairs (MEA), is being seen as part of US efforts to […]

Telcos disagree over 5G spectrum pricing

The telecom industry is split on the government’s call to hold 4G and 5G spectrum auctions in 2019, in all likelihood without lowering the prices that the regulator had suggested.  While Bharti AirtelNSE -1.00 % and Vodafone Idea have called the 5G spectrum prices “exorbitant” and called for them to be lowered, new entrant Reliance […]

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