China’s economy is expected to have grown around 5 per cent this year, President Xi Jinping said on Tuesday, according to state news agency Xinhua. Xi also pledged to take more proactive measures to support the economy next year. Xi added that China would deepen its reform, expand opening up, and coordinate development and security. … Read more
Photo used for representation purpose only. | Photo Credit: Sushil Kumar Verma The story so far: It has been what one may call, a bittersweet year for the economy, with a sweet first half, when growth surprised everyone, including the government. And a difficult latter half by the end of which the Reserve Bank of … Read more
New Delhi: Chief Economic Advisor V Anantha Nageswaran on Thursday said economic activity in some sectors have picked up pace during October-November and a GDP growth of 6.5-7 per cent in the current fiscal is feasible. He also said that the 5.4 per cent second quarter GDP growth estimate could be revised upwards going forward, … Read more
The International Monetary Fund (IMF) has said the growth forecast in Sub-Saharan Africa has been revised downward by 0.2 percentage points for 2024 and upward by 0.1 percentage points for 2025. The revision reflects slower growth in Nigeria, amid weaker-than-expected activity in the first half of the year, the fund said on Tuesday at the … Read more
China’s top economic planner has reassured private entrepreneurs it will “spare no effort” to help companies “conquer difficulties”, in Beijing’s latest move to revive the economy. Zheng Shanjie, head of the National Development and Reform Commission (NDRC), hosted a meeting on Friday with representatives from several private companies to learn about business conditions, problems they … Read more
The turnover of the automotive component industry rose by 9.8 per cent year-on-year to Rs 6.14 lakh crore for the fiscal ended March 31, 2024, industry body ACMA said on Thursday. The industry had reported a turnover of Rs 5.59 lakh crore in the 2022-23 financial year. Component supply to OEMs (original equipment manufacturers) in … Read more
Bajaj Auto looks to sustain momentum in its domestic business and expand production capacity for new businesses as it expects demand to remain robust in the current fiscal, according to its Chairman Niraj Bajaj. Addressing shareholders in the company’s Annual Report for 2023-24, he noted that the company would also aim for recovery in export … Read more
Mumbai: Benchmark equity indices hit their all-time high levels in early trade on Monday, with the Sensex breaching the 77,000-mark for the first time ever, rallying for the fourth day running. Optimism in the markets is due to various factors such as the Reserve Bank of India (RBI) revising upwards the GDP growth projection to … Read more
Automobile sales slowed down in May as a combination of factors such as heatwaves, election-related uncertainties and a high base led to a decline in dispatches from the manufacturers to the dealers over the year-ago period, said executives at manufacturers that released the monthly sales figures on Saturday.Automobile manufacturers in India count dispatches to dealers … Read more
New Delhi: India’s nominal GDP growth will accelerate to 11.6 per cent this year versus 9.2 per cent in 2023, making it the third consecutive year that the country’s nominal GDP growth will be the strongest in Asia, according to a Morgan Stanley report. Within Asia, India offers a compelling opportunity from a domestic demand … Read more
