India’s services sector growth slows, yet remains strong

June 6, 2023

India’s services sector growth slowed slightly in May, but still registered the second-strongest rate of growth in nearly 13 years, due to the expansion of new business, as reported by the S&P Global India Services survey released on Monday. The seasonally adjusted services PMI Business Activity Index fell from 62...

Managing risks to capital flows, global debt key themes for G20 FAWG meet

June 6, 2023

The third G20 International Financial Architecture Working Group (G20FAWG) is all set to brainstorm on investment requirements, managing risks to capital flows, addressing global debt vulnerabilities, and other key priority areas of the Indian G20 Presidency in Goa on June 6–7. The deliberations during the meeting will be jointly steered...

India’s manufacturing sector rebounds to 31-month high in May 2023

June 2, 2023

India’s manufacturing sector experienced a robust rebound in activities, reaching a 31-month high in May 2023, according to the S&P Global India Manufacturing Purchasing Managers’ Index (PMI). New orders and favourable market conditions were the driving forces behind this impressive growth. The seasonally adjusted PMI rose from 57.2 in April...

India’s economy outperforms amid global strife, surging 6.1% in Q4

June 1, 2023

Despite significant global pressures and geopolitical instability, India’s economy demonstrated resilience by posting a 6.1% growth rate in the final quarter of the previous fiscal year. Furthermore, the economy is predicted to expand by 7.2% in the 2022-23 financial year, according to government figures released Wednesday. The data signifies that...

McLaren Automotive launches McLaren Artura hybrid supercar in India

May 27, 2023

British luxury supercar-maker McLaren Automotive launched McLaren Artura hybrid supercar in India, following a highly successful first year in this market which is McLaren’s latest and 41st territory. Nivedita Mukherjee spoke to Paul Harris, Managing Director – APAC and China, McLaren Automotive. You have been in India for a year. Why India?...

UK luxury car maker McLaren debuts Artura hybrid in India for appx Rs 5 cr

May 27, 2023

British luxury high performance supercar-maker McLaren Automotive on Friday today launched the all-new McLaren Artura in India with an approximate price tag of Rs 5 crore. McLaren’s cars are designed at the McLaren technology centre in Woking, Surrey, England before being hand-built at the adjoining McLaren production centre. The launch...

Private consumption, rural demand revival to drive growth in Apr-Jun: RBI

May 23, 2023

India’s growth in the first quarter of financial year 2023-24 is expected to be driven by private consumption, supported by reviving rural demand and renewed buoyancy in manufacturing on easing of input cost pressures, the central bank said in its “State of the Economy” report, published as part of its monthly bulletin. “Investment...

Growing consumption, GST collection indicators of growth: Finance Ministry

May 23, 2023

Amid downside risks to growth and upside risks to inflation, partly channelled through the external sector and partly originating from weather uncertainties, India’s strong domestic demand augurs well for the economy to sustain the growth momentum. Consumption has shown steady and broad-based growth, while investment in capacity creation and real...

Goyal for expeditious India-EU FTA talks, parity for developing countries

May 17, 2023

Commerce and Industry Minister Piyush Goyal on Tuesday underlined the need for a level playing field for both developed and emerging economies while addressing global challenges such as climate issues, and, invited industry leaders at a Federation of Belgian Enterprises meeting in Belgium, to seize the opportunity presented by India’s ‘10x plus growth potential in the next 25 years’ which...

Recession in West pulls down India’s overall export growth in April’23 to 2% yoy, combined trade deficit falls to 21 months low

May 16, 2023

Geopolitical tensions and recession in the western countries dragged down India’s overall export (merchandise and services combined) growth in April 2023 to a bare 2 per cent over April 2022. Overall exports last month is estimated to be USD 65.02 billion while overall imports in April 2023 tanked at USD 66.40 billion,...