Leading global investment bank Goldman Sachs has projected a more than 15 per cent GDP expansion for India in the next fiscal. And strong farm sector growth and rising rural prosperity could temper the blow of the massive economic contraction in the first quarter of the current fiscal.
Freight movement, electricity and oil consumption are all showing signs of increasing demand. Unemployment is also falling. Coupled with an expected boom in the rural economy, which supports 70 per cent of India’s population, these could substantially temper or even negate the contraction of the economy in the first quarter of this financial year.
Foreign portfolio investors have pumped in $3 billion into Indian stocks over the last seven trading sessions, reversing a two-month long trend, following the announcement of major liberalisation measures and the expectation that the economy will gradually lift itself out of the Covid-induced slowdown.
Many economists feel that some green shoots of growth are visible within the Indian economy but it is best to wait for more widely dispersed signs of a turnaround before breathing a little easier. The International Monetary Fund (IMF) has projected India to grow at 4.8 per cent this year, down sharply from the 6.1 per cent forecast in October 2019, and blamed it for dragging global growth down. Since India is the world’s fifth-largest economy in purchasing power parity [...]
The Indian PM’s decision to hike the procurement price of agricultural crops combines good politics with good economics, explains India Inc. Founder & CEO Manoj Ladwa. If you hadn’t realised, it’s football crazy season. With giants such as Germany and Argentina crashing out in the early stages, the FIFA World cup has ignited the imagination of many non-committed watchers around the world. I will be rooting for England all the way – that’s of course in the football, and not [...]
Amid the shrill Indian television debates, the facts speak for themselves – India today is a much better place from what it was four years ago, writes India Inc. Founder & CEO Manoj Ladwa. Most people I know find it difficult to form any opinion based on Indian news channels. Switch on any TV channel in any language and you will be bombarded with shrill outbursts of often ill-tempered name calling from every shade of the country’s political and intellectual spectrum. Every channel claims to be [...]
The state claims to be the best one to invest in India but does not make the mistake of resting on its laurels. Andhra Pradesh Chief Minister Chandrababu Naidu is forever a busy man. His media advisor, Srinivasa Rao, says keeping pace with him is no mean task. He claims he has lost at least 5 kgs in the last one year. Ever since Telangana was carved out of the erstwhile state in June 2014, it will not be incorrect [...]
Ignore the doom mongers, India will return to the high growth path by winter. There’s an old truism about India which holds that for everything that is true about this country, the exact opposite is also correct. This is true for the Indian economy as well. The country’s foreign exchange reserves recently crossed the $400-billion mark, making India the world’s sixth-largest holder of forex, ahead of the Euro zone, Brazil and Taiwan. The Indian rupee, which had fallen to a [...]
Indian companies have marked out a significant presence in the large and prosperous Nigerian market. This presence will grow further as India’s public sector oil majors are expected to invest up to $15 billion in Nigeria’s oil and gas sector. A vast majority of Indians are not aware that Nigeria is an economic powerhouse whose citizens, on average, earn $2,123 per year, 20 per cent more than India’s per capita income of $1,850. But Indian businesses have known about that [...]