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Google, Walmart Help Drive India Payments Past 1 Billion Transactions

A payments platform created by India’s largest retail banks surpassed a billion transactions in October, a milestone that affirms the tremendous growth of services offered by U.S. giants from Walmart Inc. to Amazon.com Inc. and Google. Indian digital payments took off when the government pushed demonetization in 2016, invalidating most of the country’s high-value currency notes in a move to curb corruption […]

India Will Have a Say in Whether China Dominates 5G

Will Huawei Technologies build India’s 5G wireless networks? In the technological cold war between the U.S. and China, India—the world’s second-largest wireless market by number of users—may be the biggest prize up for grabs. Washington wants India to reject Huawei and instead choose one of its Western rivals, Sweden’s Ericsson or Finland’s Nokia. Beijing, needless […]

India gold demand tapers off after festival spike

Gold discounts in India widened this week as physical demand cooled because of high prices after a busy festival week while activity in other Asian hubs was largely steady. India celebrated Diwali and Dhanteras last week, some of the busiest gold-buying days in the country, when demand peaks because gold is considered auspicious. Read more: […]

What India’s extraordinary growth and future can teach global leaders

If the 19th century can be characterized by the rise of industrialization and the 20th century by the expansion of the market economy and globalization, the defining characteristics of the 21st century are dramatic and pervasive transformations and a shift from unipolarity towards multipolarity. Read more: https://www.weforum.org/agenda/2019/10/future-of-indian-economy-and-society/ (1)

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 (2)

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 (8)

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