INDUSTRIAL GROWTH
Industry needs to boost capital investments to capitalise on growth opportunities: Anand Mahindra
Anand Mahindra, Chairman of Mahindra Group, emphasized the need for Indian companies to increase capital investment to leverage growth opportunities domestically and globally. In the company's annual report for 2023-24, Mahindra highlighted India's strengthened position in global supply chains post-COVID, urging private industry to seize this momentum. He stressed that private investment is crucial for driving economic growth, creating jobs, and stimulating demand.
India's services growth picks up in June on record rise in exports
India's services sector saw robust growth in June, driven by strong demand and record export orders, according to the HSBC India Services PMI by S&P Global. The index rose to 60.5, indicating expansion. Hiring reached its highest in nearly two years, while positive sentiment dipped slightly due to market uncertainty.
Women in India face a jobs crisis. Are factories the solution?
As international brands limit their dependence on China by shifting some manufacturing to India, the trend holds the potential to generate significant numbers of manufacturing jobs - especially for women, who have largely been excluded from the ranks of formal Indian employment.
RBI aims to get inflation down to 4%, don't expect any rate cut this year: Amitabh Chaudhry, MD, Axis Bank
Axis Bank aims for sustained growth through NIM enhancement, market share expansion, and compliance strengthening under CEO Amitabh Chaudhry's leadership.
Economy on strong wicket after fiscal first quarter
India's economy showed strong first-quarter performance with surging manufacturing activity, robust GST collections, and record-high Sensex, alongside a rise in passenger car sales and new export orders from overseas markets, as highlighted by industry experts and economic indicators.
Expect 8-10% industry volume growth for FY-25: Mohan Bangur, Shree Cement
So, in the next three quarters, the demand has to meet around 9% to 10% to make up for the lost time. In the first quarter, there were elections, there were water shortage, uncertainty of election results were there, now all those is over.
RIL shares can create up to $100 billion wealth, predicts Morgan Stanley
Morgan Stanley, a global brokerage firm, forecasted that Mukesh Ambani-led Reliance Industries' (RIL) fourth monetisation cycle could potentially increase market capitalisation by $60-100 billion. They set a target price of Rs 3,540 in the base case scenario.
India's key infra sectors' growth slows to 6.3% in May
In May, India's eight core sectors grew at a rate of 6.3% annually, slightly down from 6.7% in April but higher than 5.2% in May 2023. The sectors showing positive growth included electricity, coal, steel, natural gas, and refinery products, according to the Ministry of Commerce & Industry
World Bank revises India's FY25 growth forecast to 6.6%
The World Bank revised India's FY25 growth forecast to 6.6% from 6.4%, expecting India to remain the fastest growing economy, driven by public and private investment, and rising consumption.
Upward GDP projection and no change in interest rates welcomed by industry and economists
Industry leaders and economists widely accepted RBI's monetary policy stand of no change in interest rates. Besides upward projection of GDP growth for FY25 from 7 per cent to 7.2 per cent is welcomed by the Industry.
April core sector grows 6.2%, IIP seen 6-6.5%
India's eight core infrastructure sector, including coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, grew 6.2% in April, up from 6% in the previous month. The sector's output slowed to 7.6% in FY24, with coal output up 7.5% and electricity generation rising 9.4%. Fertilizer production contracted 0.8% for the fourth consecutive month.
India's core sector growth rises 6.2% in April
India's index of eight core sectors saw a 6.2% annual growth in April, following a 6.6% growth in March. The eight sectors had grown 4.6% in April 2023. The production of electricity, natural gas, coal, steel, refinery products, crude oil, and cement showed positive growth. However, coal sector output decreased by 7.5% YoY, while crude oil sector saw a 1.6% growth.
Dalal St is likely pricing in a Modi 3.0 but election winners already have a bitter household burden
India's stock market hit an all-time high last week, as investors anticipate a third term for Prime Minister Narendra Modi will boost corporate profits. However, consumer debt poses a significant risk. Slow wage growth, high interest rates, and heavy borrowing have strained spending for over 300 million families. Despite this, investors expect post-election growth in private capital expenditure and infrastructure projects
India May business growth robust as exports rise at record pace, PMI shows
HSBC's flash India Composite purchasing managers' Index , compiled by S&P Global, rose slightly to 61.7 this month from April's final reading of 61.5, marking the 34th month above the 50-level separating growth from contraction.
Indian economy likely grew at a 4-quarter low in Q4: ICRA
Economists predict India's economy to grow at a four-quarter low of 6.7% in Q4FY24. The growth in 3 FY24 was 8.4%. Agricultural GVA is likely to contract for 2nd straight quarter, amid rabi output concerns. Overall GVA growth expected to ease to 5.7% in Q4, driven by industrial and services sectors. ICRA forecasts FY2024 GDP and GVA growth at 7.8% and 7.0%, respectively.
Expect good response on EV policy, FDI reforms in new govt; prepare for low tariff regime: DPIIT Secretary
India anticipates a positive response from numerous automobile companies to its electric vehicle (EV) policy, according to Rajesh Kumar Singh, DPIIT secretary. He noted that the government has adjusted tariffs to attract manufacturers without direct spending. Additionally, he stated that India might further liberalize FDI norms in select areas under the new government.
Strong growth likely in FY25; pvt investment picking up, says Sanjay Nayar
In an interview to ET, Nayar called on the government to maintain its capital expenditure push for some more time to "crowd in" private investment. Rural consumption has started to see an uptick, on top of the already strong urban demand, he said. Capacity utilisation has gone up to 75% or so, which indicates companies would go for fresh capacity expansion.
IIP growth eases to 4.9% in March but grows faster at 5.8% in FY24
Among the three major industries, manufacturing and electricity recorded a faster pace of growth in March compared with the previous month, expanding 5.2% and 8.6% compared with 4.9% and 7.5% in February. On the other hand, mining activity eased sharply to 1.2% from 8.1% in the previous month.
India's Industrial Production growth rate slows to 4.9% in March 2024
The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew 5.2 per cent in March 2024, from 5 per cent in February.
Load More
