India’s manufacturing and services sector activity continued to expand at a robust pace in August 2022, as per the latest Purchasing Managers’ Index (PMI) data. The manufacturing PMI rose to 58.6 in August from 57.7 in July, while the services PMI moderated slightly to 60.1 from 62.3 in the previous month. Nevertheless, the strong PMI […]
Assocham, one of India’s top three industry associations, has predicted double digit GDP growth for India this year, citing encouraging response from its members. The association, which counts hundreds of manufacturing and service sector companies as its members, said the economy is fast returning to normal after the disruption seen in April and May due […]
Fitch Ratings, one of the top two credit rating agencies, said it expects the economic impact of the second wave of COVID-19 in India to be less severe than what was seen in the first wave last year. “We expect the shock to economic activity from the latest wave of the pandemic in India to […]
A survey by global image consultants Edelman has found that Indians are significantly more worried about losing their jobs than people in any other country, while those in Japan, Saudi Arabia, Netherlands and Germany are the least worried. The survey, which was conducted among 34,000 people in 28 countries, also found that Indian companies were […]
New jobs posted on Naukri.com, India’s largest recruitment website, showed an increase of 8% in September compared to the same month last year. However, the headline number was boosted by strong demand for IT and BPO professionals, even as other sectors showed weakness. The biggest declines were shown in the automobile sector, which saw 20% […]
Subramanian Swamy is often accused of propagating outlandish ideas and suggestions, but at least on the issue of addressing a slowdown in India’s GDP growth, he seems to be closer to the truth than India’s ruling establishment. Both Sitharaman and Swamy are united in recognizing the need for a ‘stimulus’ to nudge the economy from […]
Naveen Jindal, chairman of Jindal Steel & Power Ltd, one of India’s biggest steelmakers, today said the country is going through an economic slowdown, but assured investors that his company would continue to improve profits and reduce debt. Like its peers in the infrastructure and construction businesses, JSPL has very high levels of debt. During […]
Anuj Puri, chairman of Anarock Property Consultants, today called on the Reserve Bank of India to go for a cut of at least half a percentage point in the overnight interest rate to ensure that the real estate sector is revived. The call comes in the wake of a global slowdown in consumption and investment, […]
Amid reports that the two-wheeler industry in India is bracing for production cuts to deal with a dip in demand, Bajaj Auto, one of India’s biggest motorcycle maker, said it is not curtailing production as of now. Bajaj Auto MD Rajiv Bajaj said the company does not feel a need to cut production at present. […]
Morgan Stanley Research, part of the MS financial services group, said the US currency has likely peaked already and that the US Federal Reserve is likely to follow a more accommodative monetary policy going forward. Fed Chairman Jerome Powell had softened his stance early this month after his December comments about balance-sheet normalization at the […]
India’s finance minister Piyush Goel has blamed international factors for the current decline in the rupee’s value against the dollar, and said India’s financial situation is much improved from the UPA days. “All our macro economic indicators are strong,” Goyal said. “But on the international scene, there have been announcements on oil and on Iran, […]
The core sector growth in India’s Index of Industrial Production was at 5.3% for February 2018, the government said today. In January, the growth was 6.1%. The highest growth was seen in refinery output (7.8%) and cement (22.9%), while crude oil and natural gas production went down. With this, the overall growth for the IIP […]
The Indian banking system is likely to get a permanent liquidity boost of Rs 1.7 lakh cr due to the demonetization of high-denomination bank notes, State Bank of India chief economic adviser said in a note to bank clients. He said people were not making the large cash withdrawals that everyone expected them to after the […]
High fuel prices, particularly that of diesel, lifted India’s wholesale price index to its highest level since the Narendra Modi government took power almost three years ago. On an overall level, wholesale price of various items jumped 6.55% in February when compared with the prices of the same basket of commodities in the same month […]
Hiring activity fell 8% October this year compared to the same month a year ago, according to Naukri.com’s Job Speak Index. This dip was primarily caused by the festive season which saw Dussehra, Durga Pooja and Diwali fall in October, the company said. “Hiring activity generally tends to slow down around these festivals as recruiters […]
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product(GDP) for the first quarter (April-June) Q1, of 2016-17, both at constant (2011-12) and current prices, along with the corresponding quarterly estimates of expenditure components of the GDP. GDP at constant (2011-12) prices in Q1 of 2016-17 […]
India’s industrial production index for core industries rose 3.2% in July compared to a year ago, indicating a slight improvement in economic activities. The eight core industries, that comprise nearly 38% of Index of Industrial Production (IIP), rose to 173.7 in July. Its cumulative growth during April to July, 2016-17 was 4.9 %. Coal Coal […]
Sentiment in the Indian private sector remains low, even as individual consumption is starting to pick up, Singapore-based DBS bank said. “Industrial lending slowed to 0.5% year on year in Apr-May in contrast to the personal loans that jumped 19.4%,” the bank said in a note to its clients. DBS said a combination of factors has […]
The Naukri Job Speak Index reported a jump of 27% in hiring activity in May this year compared to last year. “Sustained growth in IT-Software and ITES during the year led to an impressive hiring sentiment for these sectors. On the other hand, Telecom and Real Estate reported a negative sentiment in Y-o-Y index for […]
International financial services firm Morgan Stanley said it expects the formation of bad loans to decline 40% this financial year, based on industry feedback. “Our view is that new NPL (non-performing loans) formation will decline by ~40% YoY in F17. It will still be high, but given the surge in F16, it should decline meaningfully […]
