Economy

November 9, 2023

The Golden Surge: A Glittering Outlook for Gold Investors

Gold has shone brightly for investors, delivering an astounding 60% return over the last four years. If you invested in gold during Diwali 2019, you would now be reveling in a 60% increase in your domestic gold investments, states Motilal Oswal Financial Services.

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October 30, 2023

Unprecedented Drop in IT Industry Employment: A Shift in the Winds

In a significant development, the Indian IT industry is facing a historic challenge as the headcount at top IT companies experiences its first decline in over 25 years. This unexpected downturn is largely attributed to clients in the US and Europe cutting back on spending due to increasing economic and geopolitical uncertainties. Here, we delve into the details of this remarkable shift in the IT job landscape.

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October 23, 2023

RBI MPC Minutes: Focus on Disinflation Amid Rising Inflation

The Reserve Bank of India (RBI) has unveiled the minutes of the Monetary Policy Committee (MPC) meeting, shedding light on the current inflation situation. The committee acknowledges that India's headline inflation has exceeded the tolerance band and is diverging from its target. As a result, the central bank is committed to maintaining an actively disinflationary monetary policy.

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August 5, 2023

"Morgan Stanley Upgrades India's Market Status and Downgrades China Amid Global Economic Shifts"

Morgan Stanley, a renowned brokerage firm, has recently upgraded India's market status to "overweight" from "equal weight," signifying a positive outlook for the nation's economy. This upgrade comes amidst the US losing its AAA status and China experiencing an economic slowdown. The firm also downgraded its rating on Chinese stocks to "equal weight" due to concerns about sustaining gains amid government stimulus measures.

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July 13, 2023

Rising CPI-Based Inflation and IIP Growth Slows in India

The latest data released by the Ministry of Statistics and Programme Implementation (MoSPI) reveals an increase in retail inflation and a slowdown in industrial production growth in India. Retail inflation, measured by the consumer price index (CPI), rose to 4.81% in June, primarily driven by higher food prices. Meanwhile, the Index of Industrial Production (IIP) growth rate for May stood at 5.2%, indicating a moderation compared to the previous year.

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July 6, 2023

RBI Panel Proposes Measures to Internationalize the Rupee and Reduce Dollar Dependency

An inter-departmental group (IDG) formed by the Reserve Bank of India (RBI) has recommended steps to promote the internationalization of the Indian rupee and reduce reliance on the US dollar. Led by Radha Shyam Ratho, the panel suggests short-term, medium-term, and long-term strategies to increase the use of the rupee in transactions outside the country. Capital account convertibility is not deemed a prerequisite for internationalization, as the current level of convertibility provides sufficient room for initiating these measures. Recent geopolitical developments, coupled with India's growing trade and capital connections with the world, have set the stage for the emergence of the rupee as a potential international currency.

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June 28, 2023

India's Current Account Deficit Narrows in Q1 2023 as Trade Gap Shrinks: RBI

India's current account deficit (CAD) in the January-March quarter of FY23 has shown a significant improvement, primarily driven by a reduction in the trade deficit and a notable increase in services exports, according to data released by the Reserve Bank of India (RBI). The CAD narrowed to USD 1.3 billion, accounting for 0.2 percent of GDP during this period. However, for the full fiscal year 2022-23, the CAD stood at 2 percent of GDP, compared to 1.2 percent in the previous year.

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June 26, 2023

India and Egypt Strengthen Ties to Form a Strategic Partnership during PM Modi's Visit

During Prime Minister Narendra Modi's two-day visit to Cairo, India and Egypt solidified their relationship by signing a significant strategic partnership treaty. The agreement, which was initially discussed during Egyptian President Abdel Fattah el-Sisi's visit to India as the chief guest for the Republic Day parade, aims to enhance cooperation in various sectors such as trade, investment, defence, security, renewable energy, culture, and people-to-people ties.

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June 23, 2023

RBI Members Clash Over Rate Hikes Amid Growth Concerns

The latest minutes from India's monetary policy committee (MPC) meeting reveal a growing divergence among its members regarding the future trajectory of rate hikes. While some external members argue that further tightening could impede the economic recovery, the Reserve Bank of India (RBI) emphasises the need to curb inflationary pressures.

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June 20, 2023

"Withdrawal of Rs 2000 Notes Boosts Real Estate, Gold, and Consumer Durables; Consumers and Industries React"

The recent withdrawal of Rs 2000 notes from circulation has sparked a flurry of activity in various sectors of the economy. From increased sales in real estate, gold, and consumer durables to a surge in land deals and secondary market apartment sales, the impact of this decision is being felt across the country.

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June 19, 2023

Impact of El Nino & Increasingly Severe Cyclones on Indian Economy and Stock Market Raises Concerns

The impending El Nino effect on the upcoming monsoon season has raised concerns among analysts and economists regarding its impact on the Indian economy and financial markets. With the possibility of drought-like conditions and its potential consequences, such as reduced agricultural output and higher inflation, the repercussions of El Nino on India need careful consideration. This article explores the historical significance of El Nino, predictions for 2023, expectations for different sectors, and smart investment strategies in light of these circumstances.

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June 13, 2023

India's GDP Surges to $3.75 Trillion, Ranks Fifth in Global Economy

India's economy has witnessed significant growth, with its gross domestic product (GDP) reaching the $3.75 trillion milestone in 2023, a substantial increase from around $2 trillion in 2014. As a result, India has ascended from the tenth to the fifth-largest economy in the world. The country's remarkable progress has been attributed to nine years of reforms under the leadership of Prime Minister Narendra Modi, earning India the recognition of being a bright spot in the global economy.

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June 9, 2023

Eurozone Slides into Recession as Inflation and Government Spending Weigh on Economic Output

The eurozone, consisting of 20 countries, entered a mild recession in the early part of this year, as high inflation dampened consumer spending and governments adopted tighter fiscal policies. Revised official data reveals that economic output in the eurozone declined by 0.1% in both the fourth quarter of 2022 and the first quarter of 2023. Meanwhile, the broader European economy managed to avoid a downturn, with the European Union experiencing a slight uptick in gross domestic product (GDP). This article explores the factors contributing to the eurozone recession and examines the potential implications for global markets, including India.

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June 8, 2023

RBI Monetary Policy Committee Meeting Today: Anticipated Outcomes and Policy Outlook

The Reserve Bank of India's Monetary Policy Committee (MPC) is set to convene today to deliberate on key economic indicators and policy decisions. Market participants are eagerly awaiting the outcomes of the meeting, as the central bank's decisions will have significant implications for various sectors of the economy. Here are the key expectations for the MPC meeting.

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June 1, 2023

India's Economy Surpasses Expectations: GDP Expands by 7.2% in FY23

India's economy has surpassed expectations by recording a growth rate of 7.2% in FY23, outperforming the official forecast of 7%. The robust expansion in sectors such as agriculture, construction, services, and a rebound in manufacturing during the March quarter contributed to this impressive growth. The data released by the National Statistical Office highlights the resilience and promising trajectory of India's economy.

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May 29, 2023

National Apprenticeship Programme: Empowering Companies through Engaging Interns and Financial Incentives

The National Apprenticeship Programme is a transformative initiative that aims to facilitate the engagement of interns by companies across India. This program not only provides valuable opportunities for aspiring professionals to gain practical experience but also offers financial incentives to participating companies. With a focus on bridging the skills gap and fostering industry-education collaboration, this initiative holds great promise for both businesses and young talent.

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May 27, 2023

MCA V3 Portal Plagued by Glitches and Inefficiencies, Causing Chaos for CAs and Startups : Ease of Doing Business a Far fetched Dream

The Ministry of Corporate Affairs' (MCA) MCA 21 portal, aimed at streamlining compliance and enforcement of legal requirements, has come under fire from Chartered Accountants (CAs) and company secretaries. The latest version, V3, has been plagued with technical glitches, leading to significant challenges and delays in crucial processes such as company formation. The grievances raised on social media platforms have highlighted the growing frustration among professionals and startups, as the website malfunctions continue to impact their operations negatively.

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May 27, 2023

Positive Monsoon Forecast Boosts Economy and Market Prospects

The India Meteorological Department (IMD) has predicted a normal monsoon season for India in 2023. This forecast has positive implications for the economy and financial markets, particularly benefiting domestic consumption-focused companies, according to economists and analysts.

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May 22, 2023

RBI's Withdrawal of Rs 2,000 Notes to Have Minimal Impact on Economy, Experts Say

The Reserve Bank of India's (RBI) recent decision to withdraw Rs 2,000 notes from circulation is expected to have little effect on the country's economy. Economists emphasize that the limited share of these high-denomination notes in circulation and the extended deposit window will mitigate any significant economic impact. This article provides insights into the implications of the withdrawal, expert opinions, and the potential effects on various sectors.

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May 20, 2023

RBI to Withdraw Rs 2,000 Currency Notes: Here's What You Need to Know

In a recent announcement, the Reserve Bank of India (RBI) stated that it will be withdrawing the circulation of Rs 2,000 denomination banknotes. However, it emphasized that the existing Rs 2,000 notes will remain legal tender. To ensure a smooth transition, the RBI has provided details and clarifications regarding this decision.

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April 27, 2023

Mixed Outlook for Economic Growth as RBI's MPC Members Debate Prospects

The Reserve Bank of India's monetary policy committee (MPC) remains divided on the prospects of economic growth, according to the minutes of their April meeting. External members expressed concerns about slowing growth, while internal members appeared more optimistic. Despite the split, all members agreed to maintain the repo rate at 6.5%. RBI Governor Shaktikanta Das emphasized the dynamic and evolving nature of the situation, while highlighting the government's focus on infrastructure spending to support investment activity.

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April 24, 2023

India's Economy and Development Goals at Risk Due to Killer Heat Waves: Study

A recent study has revealed that India's agriculture, economy, and public health are under unprecedented burdens due to killer heat waves. Climate change is also hindering the country's long-term efforts to reduce poverty, inequality, and illness. According to the study conducted by scholars from the University of Cambridge, extreme heat has caused over 24,000 deaths since 1992, driven up air pollution, and accelerated glacial melt in northern India. The country is now facing a collision of multiple and cumulative climate hazards.

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April 17, 2023

India's Economy Shows Signs of Fatigue as Growth Slows

India's economy is facing challenges due to high interest rates, causing both domestic and foreign demand to decrease. This has resulted in a slowdown of growth, as seen in the October-December period, with growth rates easing to 4.4%. These concerns have prompted the RBI to pause its aggressive tightening cycle in a decade.

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April 15, 2023

India's Forex Reserves Jump to Nine-Month High, Rupee Climbs Against US Dollar

India's foreign exchange reserves surged by $6.3 billion to reach a nine-month high of $584.76 billion for the week ending on April 7, as per the Reserve Bank of India's (RBI) statistical supplement. The increase was primarily due to the rise in foreign currency assets, which climbed by $4.74 billion to $514.431 billion. Meanwhile, gold reserves rose by $1.496 billion to $46.696 billion, and the Special Drawing Rights (SDRs) were up by $58 million to $18.45 billion.

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April 10, 2023

RBI Predicts Inflation to Remain High at 5.2% for FY24

The Reserve Bank of India (RBI) has projected a marginal easing in retail inflation to 5.2% for the current fiscal year, down from its February projection of 5.3%. However, Governor Shaktikanta Das has cautioned that the fight against inflation is far from over, and the outlook remains dynamic amid recent crude oil price jumps due to OPEC's decision to cut output. The RBI has the mandate to keep inflation at 4%, with a band of (+/-) 2% on either side.

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April 5, 2023

Robust GST Collections Reflect Strong Indian Economy

The Indian government has released data revealing that the Goods and Services Tax (GST) collection for March has been buoyant for 12 consecutive months. Despite global headwinds, the sustained buoyancy of the tax on consumption highlights the resilience of the Indian economy. The total gross collection for 2022-23 stands at over ₹18 lakh crore, a 22% year-on-year jump.

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April 1, 2023

India's Rupee Weakens Against US Dollar in FY23: A Look at the Factors

The Indian Rupee weakened by 7.8% against the US dollar in the financial year 2022-23, marking the most significant depreciation in three years. The currency closed at 82.18 to a dollar, compared to 75.79 a year ago. The rupee's depreciation was a result of the geopolitical factors and the US Federal Reserve's interest rate hike, leading to high volatility in most major currencies.

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March 27, 2023

India's Blue Economy: Recent Developments and Challenges

India's coastline stretches for more than 7,500 kilometres, providing ample opportunities for the development of the Blue Economy. The Blue Economy includes activities related to marine resources, such as fisheries, aquaculture, tourism, shipping, and offshore energy production. In recent years, the Indian government has recognized the importance of the Blue Economy and has taken several steps to promote its development. However, challenges such as climate change and unsustainable fishing practices pose significant obstacles to this growth.

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March 24, 2023

India's Economic Outlook: Stability amidst Global Uncertainties

As the US Federal Reserve announces aggressive monetary tightening, the global financial system braces itself for yet another crisis. But how will this uncertainty impact India? Here are three charts that shed light on India's economic performance.

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March 14, 2023

Navigating the Complexities of Financial Crisis in 2023: Lessons Learned from 2008 and 2020

The financial crisis of 2008 was a contagion that swept across the world, while 2020 was a medical crisis that led to an economic crisis, both of which required significant intervention from central banks and governments to contain. However, in retrospect, central banks should have curtailed their stimulus measures in 2021 and started tightening. Now, the world is sitting on an over-financialized system, with financial outstanding at 400% of actual global GDP. The current situation is further complicated by the weaponization of energy supplies and the dollar, as well as the emergence of de-globalization, friend shoring, and de- dollarization. This article explores the lessons learned from past financial crises and offers recommendations for navigating the complexities of the current crisis.

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March 03, 2023

Navigating Through the Economic Turmoil: How Rising Inflation and Rate Hikes Affect the Common Populace of India

The Indian economy has been grappling with rising inflation and the possibility of rate hikes. Inflation has been on the rise for the past few months, and the Reserve Bank of India (RBI) is expected to increase interest rates to curb inflation.

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March 02, 2023

Iranian Nuclear Enrichment and Its Potential Impact on India and the Middle East

The Iranian nuclear enrichment program has been a topic of debate and tension for many years. Recently, Iran announced that it would resume uranium enrichment to 20% purity, a significant increase from the 3.67% allowed under the 2015 nuclear deal.

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February 28, 2023

India's Position to Strengthen Economic Ties through the G20 Summit Presidency

The Group of Twenty (G20) is a global forum comprising 19 countries and the European Union, representing over 80% of the world's GDP. India is set to assume the presidency of the G20 in 2023, providing an opportunity for India to strengthen its economic ties with other countries.

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February 25, 2023

Ukraine-Russia War Completion 1 Year Later: Impact on Indian Economy and Markets and Risk of Escalation to Cheap Oil Imports from Russia

On February 24, 2023, it marks the first anniversary of the ongoing conflict between Ukraine and Russia. The war started when Russia annexed Crimea in 2014, and the conflict has since escalated into an ongoing battle.

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February 13, 2023

India's Resilient Economy: A Beacon of Hope Amid Global Recession

The world is currently facing uncertain economic waters, with many developed economies showing signs of deceleration and a high risk of recession. However, India stands out as one of the fastest-growing economies, thanks to its strong domestic market and relative independence from exports to developed markets.

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February 11, 2023

India's Dream to Become a Superpower with the Best Economy

India has long been considered a rising economic power, and the country has set its sights on becoming a superpower with the best economy. India's growing population, increasing middle class, and rapidly developing technology sector have put the country in a strong position to achieve this goal.

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February 08, 2023

UPI- The Revolutionising Payment System of India: An Insight

The Unified Payment Interface (UPI) has transformed the payment landscape in India since its launch in 2016. It has made digital payments easier and convenient, bridging the gap between customers and banks.

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January 25, 2023

Recession Fears Loom as Global Slowdown Threatens Indian Economy

As the world economy enters 2023 with hope, the International Monetary Fund (IMF) has warned that one-third of the world will be in recession this year. This gloomy outlook has sent shockwaves through oil and financial markets worldwide. In this article, we will examine the potential impact of a global recession on the Indian economy.

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January 23, 2023

India shines at World Economic Forum's Davos 2023, attracting global investments and praise from leaders

The World Economic Forum's annual meeting in Davos, Switzerland concluded on Friday, with global leaders and economists praising India for its strong ability to attract global investments and its policies, such as the Product-Linked Incentive (PLI). India was also noted for its visibility among regional Asian peers, with major tech companies having a presence at the event.

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January 17, 2023

Rising Tensions: Russia-Ukraine War on the Verge of Escalation- Trouble Ahead for Global Economy

The ongoing Russia-Ukraine war is on the brink of escalating into a major conflict in the coming months, with dire implications for the geopolitical scenario and markets around the world.

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India's Accelerated Ascent to a $10 Trillion Economy

India, currently a $3.1 trillion economy, has been making remarkable strides towards becoming a $10 trillion economy. It took India 60 years since Independence to become a one trillion-dollar economy, but the next trillion dollars was added in only 7 years. The 3rd trillion was added in just 5 years in 2019.

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July 15, 2024 - First Issue

Industry Review

VOL XV - 23
July 01-15, 2024

Formerly Fortune India Managing Editor Deven Malkan Assistant Editor A.K. Batha President Bhupendra Shah Circulation Executive Warren Sequeira Art Director Prakash S. Acharekar Graphic Designer Madhukar Thakur Investment Analysis CI Research Bureau Anvicon Research DD Research Bureau Manager (Special Projects) Bhagwan Bhosale Editorial Associates New Delhi Ranjana Arora Bureau Chief Kolkata Anirbahn Chawdhory Gujarat Pranav Brahmbhatt Bureau Cheif Mobile: 098251-49108 Bangalore Jaya Padmanabhan Bureau Chief Chennai S Gururajan Bureau Chief (Tamil Nadu) Ludhiana Ajitkumar Vijh Bhubaneshwar Braja Bandhu Behera

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