RBI Governor Shaktikanta Das expressed confidence in India's economic stability amidst global uncertainties. He highlighted the country's strong external sector, robust buffers, and the RBI's proactive measures in navigating challenges like inflation and geopolitical tensions. Das emphasized the central bank's commitment to balancing growth and stability while addressing emerging risks.
Inflation is under control, foreign exchange reserves have crossed $700 billion, the country is recording healthy economic growth rates and is the most preferred investment destination, Goyal said at an event organised by Society for Human Resource Management (SHRM).
US shoppers increased their spending last month due to low unemployment and higher incomes. Retail sales, including online retailers and restaurants, went up by 0.4% from August to September. Lower gas prices contributed to a decrease in gas station sales. The Federal Reserve has cut interest rates to support economic growth.
Union Commerce Minister Piyush Goyal on Wednesday stressed the need to manufacture high-quality products, saying without this approach it is going to be very difficult to make India truly competitive.
Economic momentum accelerates post-elections with policy continuity boosting business confidence; CII Business Confidence Index rises to 68.2 in July-September 2024 driven by strong domestic demand. Respondents highlight rural consumption, steady monsoon, and increased private investment as growth drivers despite a challenging global environment.
India's economy expanding at the fastest pace among major emerging markets, companies are trying to serve its diverse palette by launching new flavors and size variants aimed at attracting the country's vast population and untapped rural market. "While the last decade had companies focused on selling into China, the next decade is about selling into India," said Brian Jacobsen, chief economist at Annex Wealth Management.
In budget 2024, on the infrastructure front, FM Nirmala Sitharaman has announced substantial outlays, including Rs 1.52 lakh crore for agriculture and allied sectors and Rs 2.66 lakh crore for rural development. On the other hand, for urban infrastructure, a total of approximately Rs 10 lakh crore has been allocated.
In the world of gold investment, tracking prices, inflation data, and the Federal Reserve's stance is key. Market dynamics shift based on factors like GDP estimates, equipment spending, and spot silver prices. Understanding these nuances is crucial for making informed investment decisions in a constantly evolving economic environment.
Exports rose due to a lower base from last year, with a trade surplus widening to USD 82.62 billion in May.
The RBI left the key interest rates unchanged in its monetary policy review on Friday as it continues to maintain a balance between economic growth and keeping inflation in check. The RBI's Monetary Policy Committee (MPC) meeting decided to stick to the current 6.5 per cent repo rate with a 4:2 majority vote.
Indian industry leaders express confidence in the economy's resilience despite the NDA-BJP government's unexpected outcome without an absolute majority. They anticipate policy continuity but caution about potential hurdles due to a stronger opposition and diverse political ideologies. The focus may shift to consumption, welfare schemes, and rural sectors. Stability is crucial for reforms, but the BJP's shortfall could complicate passing contentious reforms. However, the economy's growth agenda is expected to continue, with an emphasis on inclusivity and job creation.
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