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11% growth over next decade could make India world’s second largest economy by 2031: RBI Deputy Governor

“Currently, India is the third largest economy in the world in PPP terms, with a share of 7% of global GDP after China and the U.S.,” says Michael Debabrata Patra. If India achieves a growth rate of 11% into the next decade, it would become the second largest economy in the world not by 2048 […]

India’s roaring post-pandemic recovery at risk from inflation

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India’s Economy Shows Spark on Pent-Up Demand After Reopenings

India’s economy gathered momentum in May driven by pent up demand for services and higher output from industries as reopening continued from pandemic restrictions. Five of the eight high-frequency indicators compiled by Bloomberg News showed improvement, pushing the needle on a dial measuring so-called ‘Animal Spirits’ to 6, from 5,… To read more: https://www.bloomberg.com/news/articles/2022-06-26/india-s-economy-shows-spark-on-pent-up-demand-after-reopenings SOURCE: […]

India bullish on Oz trade pact despite new govt

As India keeps a watch on the appointment of a new Australian trade minister, it is upbeat on the trade pact going through despite a change of government Down Under. The India-Australia Economic Cooperation and Trade Agreement (ECTA) signed last month is to be ratified by Australian parliament before it comes into force Indian officials […]

How India is closing trade deals faster than ever

Nearly three months after India and the United Arab Emirates signed their Comprehensive Economic Partnership Agreement (CEPA), the two countries have embarked on a major effort to convert the opportunities offered by the Agreement into a movement of its stakeholders… Read more at: http://timesofindia.indiatimes.com/articleshow/91434245.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst SOURCE: TIMES OF INDIA

Inflation will probably surprise us on the upside… could lead to higher interest rates: Prashant Jain

Prashant Jain, ED and CIO of HDFC AMC — the longest-serving fund manager in the country — speaks on the impact of global events on Indian economy and markets, surge in the number of new retail investors, new-age companies… To read more: https://indianexpress.com/article/idea-exchange/idea-exchange-prashant-jain-interview-7885489/ SOURCE: THE INDIAN EXPRESS

India’s trade deficit rises 88 pc in FY22: Govt data

India’s trade deficit rose 87.5 per cent to USD 192.41 billion in 2021-22 as against USD 102.63 billion in the previous year, the government data showed on Monday. While total exports during last fiscal year increased to a record high of USD 417.81 billion, imports too soared to USD 610.22 billion, leaving a trade gap […]

India and Russia may keep ruble out of the proposed rupee-ruble trade

India and Russia may keep the ruble out of the proposed rupee-ruble trade, given the high volatility in the Russian currency after Western nations imposed sanctions on the country. Payments are likely to be settled in the rupee pegged to the dollar, and deposited in an Indian bank account. “The rupee-ruble trade may not be […]

Amid Western Sanctions, India Explores Rupee-Ruble Mechanism for Trade with Russia

India is considering establishing a payment mechanism in local currencies to allow it to continue trade with Russia, which has been hit with Western sanctions in response to its invasion of Ukraine. New Delhi is proceeding with purchases of Russian crude at discounted prices despite pressure from the United States. The state-run Indian Oil Corp. […]

India Considering Rupee Payments For Trade With Russia: Report

India is working out a mechanism to facilitate trade with Russia using local currencies, with a decision expected as early as next week, according to people familiar with the matter. The government is discussing how trade can be settled in rubles and rupees as Indian exporters are awaiting payments of about $500 million… To read […]

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