Projected Economic Transformation: Services and Manufacturing to Contribute 75% of GDP by 2047

29 Nov 2024

India's manufacturing and services sectors are projected to play a pivotal role in the country's economic transformation, employing 67% of the workforce and contributing over 75% to the Gross Domestic Product (GDP) by 2047, according to a recent report by ASSOCHAM and Egrow. The report highlights significant opportunities for businesses...

Is the World’s Best-Performing Economy Losing Its Shine?

03 Sep 2024

India, often lauded as the world’s fastest-growing major economy, has recently witnessed a slowdown in its GDP growth. In March 2024, CNN termed India as the world’s fastest-growing major economy. However, India’s GDP growth for the quarter ending June 2024 came in at 6.7%, slightly below expectations and 1.5 percentage...

Economic Survey 2024: What Does It Say About GDP And Inflation Ahead Of The Budget?

22 Jul 2024

Union Finance Minister Nirmala Sitharaman has presented the Economic Survey for 2023-2024 in the Lok Sabha, forecasting that India's real GDP will grow between 6.5% and 7% in the upcoming fiscal year. This projection aligns closely with the International Monetary Fund’s estimate of 7%. The Economic Survey stated, “We conservatively...

India’s CAD at $23.2 bn softens to 0.7% of GDP in FY24

25 Jun 2024

India’s current account (CAD) moderated to a seven-year low of USD 23.2 billion in FY2024, easing to 0.7 per cent as a proportion of GDP, from USD 67 billion which was 2.0 per cent of GDP in FY2023. The CAD more-than-halved, aided by, “a lower merchandise trade deficit according to...

Re-thinking Development Through Private-Public Collaborations

24 Jun 2024

Currently the fifth-largest GDP in the world, India is at the crossroads of its growth trajectory. A focus on equity and social justice would be crucial to reap the best out of its demographic dividend. For this, we collectively need to contextualize some of the critical spheres where interventions can...

Despite Pakistan’s GDP Target Miss, Population Surges, Reveals Economic Survey

12 Jun 2024

Despite Pakistan falling short of its GDP growth target, the nation's Economic Survey for 2023-24 uncovers a remarkable trend: a significant surge in population. Pakistan's Finance Minister, Muhammad Aurangzeb, recently presented the Economic Survey 2023-24, outlining the nation's socio-economic progress over the outgoing fiscal year. Despite aiming for a GDP...

On the Back of 8.2% GDP Growth for FY24, Modi Govt Seeks Third Term in Office

31 May 2024

Ahead of the final phase of the Lok Sabha elections, India's economy received a significant boost as government data unveiled a growth of 7.8 percent in the March quarter and a revised GDP of 8.2 percent for the full year, under the leadership of Prime Minister Narendra Modi. These latest...

PM Modi lauds Indian economy’s strength after 8.4 pc GDP growth in Q3

01 Mar 2024

Prime Minister Narendra Modi has once again reiterated that his government will continue in its mission to ensure India's economic growth is on the upward trajectory soon after data showed that the country's gross domestic product (GDP) had registered a robust 8.4 per cent growth in the third quarter of...

Smriti Irani highlights importance of normalizing conversation about women’s health

18 Jan 2024

Smriti Irani, the Union's Minister of Women and Child Development, emphasized on Wednesday the significance of normalizing discussions about women's health. One of the biggest issues, according to her, is that women's healthcare systems and conversations have never been mainstreamed. Speaking at a session linked to the Women's Health Programme...

CAD slips to 1% of GDP in Q2, experts peg range of 1.5-1.8% of GDP in FY24

27 Dec 2023

India’s current account deficit posted a sharp decline to 1 per cent of the GDP at $ 8.3 billion in the September quarter of the current fiscal 2023-24, lower than the deficit of 1.1 per cent of the GDP at $ 9.2 billion in the first quarter of FY24 and...