Economy

India’s Wholesale Price Index (WPI) Records Seventh Consecutive Month of Deflation in October

India's Wholesale Price Index (WPI)-based inflation rate continued its downward trend, reaching a three-month low of -0.52% in October. This marks the seventh consecutive month of deflation, with various factors contributing to the sustained negative trajectory. Factors Driving WPI Deflation:...

Retail Inflation Drops to 4-Month Low of 4.87% in October

Introduction India’s retail inflation, as measured by the Consumer Price Index (CPI), witnessed a 4-month low in October, settling at 4.87%. A combination of a supportive economic base and moderation in non-food prices contributed to this decline from September’s 5.02%....

Goldman Sachs Adjusts Ratings in Asian Markets: Upgrades India, Downgrades China

Goldman Sachs Group Inc. has recently made significant adjustments to its ratings in Asian markets, with a notable downgrade on Hong Kong-traded Chinese stocks and a simultaneous upgrade for Indian equities. The decision is driven by varying factors, including low...

Morgan Stanley Forecasts Robust 6.5% Growth for India’s Economy in FY24 and FY25

In its recently released "2024 India Economics Outlook," Morgan Stanley Research predicts that India's economy will experience substantial growth, hovering around 6.5% for both FY2024 and FY2025. The investment bank attributes this positive outlook to the country's resilient domestic fundamentals,...

RBI allows NRIs to buy Sovereign Green Bonds

The Reserve Bank of India (RBI) has issued a notification, granting Non-Resident Indians (NRIs) unrestricted investment access to the Government's Sovereign Green Bonds for the fiscal year 2023-24. Fully Accessible Route Designation The RBI circular designates all Sovereign Green Bonds...

UBS Raises India’s GDP Forecast to 6.3% for FY24

Foreign brokerage UBS recently revised its FY24 real GDP growth estimate for India, raising it to 6.3%. The brokerage's chief economist, Tanvee Gupta Jain, highlighted various factors contributing to this uptick despite challenges such as slower global growth and upcoming...

National Coal Index Increases by 3.83 points in September

India’s National Coal Index (NCI) witnessed a significant increase, rising 3.83 points to 143.91 in September. This boost was the first since April 2023 and was driven by a temporary spike in global coal prices, according to the Union Coal...

Fitch Raises India’s Mid-Term GDP Forecast to 6.2%

In a recent development, Fitch, the renowned rating agency, has upgraded India's mid-term GDP growth forecast to 6.2%. This favorable revision has implications for India's economic outlook, as well as the emerging markets globally. Here's a breakdown of the key...

India’s Carbon Tax Response to CBAM Raises Concerns for EU Manufacturing

The European Union's proposed Carbon Border Adjustment Mechanism (CBAM) has stirred controversy, with India's Commerce and Industry Minister strongly criticizing it as "ill-conceived." Understanding the Carbon Border Adjustment Mechanism (CBAM) Proposed by the European Union (EU): The EU aims to...

PMI points to manufacturing growth easing to 8-month low

India's manufacturing sector experienced a significant slowdown in October, with the Purchasing Managers' Index (PMI) falling to 55.5, marking an eight-month low compared to the previous month's 57.5. The data, released on November 1, highlighted the impact of cost pressures...