Economic activity in India is set to gather steam in the new year
2 years, 11 months ago

Economic activity in India is set to gather steam in the new year

Live Mint  

With a new year to be ushered in shortly, there is much anticipation about what lies ahead for Indian industry and India’s economy. The other positive factors that hold out hope in the new year include the continuing export boom, surge in tax revenues, improvement in manufacturing growth, shrinking pile of bad debts with banks, booming corporate profits, sustained growth in the country’s tally of unicorns and impressive inflows of foreign investment. Not surprisingly, the International Monetary Fund is optimistic about our economy and projects that India would retain the tag of the world’s fastest-growing economy, with annual growth poised to touch 8.5% in 2022. Apart from the National Infrastructure Pipeline, recently- announced Gati Shakti scheme to foster holistic infrastructure growth and National Monetisation Pipeline, we also have the National Bank for Financing Infrastructure and Development that aims to meet India’s infra funding requirements.

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History of this topic

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades
6 months, 2 weeks ago

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades

Firstpost  

“In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic has been exhausted” the IMF said in the World Economic Outlook The IMF on Tuesday said India's GDP would grow 7% in 2024-25. India’s GDP …

Riding high on the growth momentum
11 months, 2 weeks ago

Riding high on the growth momentum

Hindustan Times  

The Indian economy’s growth continues to surprise: The recently released advance estimate of Gross Domestic Product by the National Statistical Office showed that the economy will grow 7.3% in the current fiscal year 2023-24, slightly higher than last year’s 7.2% increase. India’s growth rate has kept a 7% handle for the last two years, but the world’s GDP growth has …

India will be third largest GDP by 2027, says Nirmala
1 year, 1 month ago

India will be third largest GDP by 2027, says Nirmala

Deccan Chronicle  

New Delhi: Terming the India-Middle East-Europe Connectivity Corridor as one of the most promising connectivity projects, Union finance minister Nirmala Sitharaman on Wednesday said that it would be a win-win situation for all stakeholders who are involved in bringing efficiency in transportation, reducing logistic costs, increasing economic unity, generating employment, and lowering greenhouse gas emissions. The country’s economic growth is …

India’s COVID-19 campaign saved more than 3.4 million lives, had positive impact on economy: Union Health Minister Mandaviya
1 year, 10 months ago

India’s COVID-19 campaign saved more than 3.4 million lives, had positive impact on economy: Union Health Minister Mandaviya

The Hindu  

adopted a Whole of Government’ & ‘Whole of Society’ approach, in a proactive, preemptive & graded manner; thus, adopting a holistic response strategy, for effective management of COVID-19,” Dr. Mansukh Mandaviya said on February 24 as he virtually addressed the ‘The India Dialog’ session on the Economic Impact of Vaccination and Related Matters. The Union Minister for Health and Family …

India biggest exporter of vaccines, mobile phones: Union Minister Thakur
1 year, 10 months ago

India biggest exporter of vaccines, mobile phones: Union Minister Thakur

Deccan Chronicle  

Jammu: India is now the hub of the startup ecosystem in the world, ranking third with 90,000 startups and 107 unicorn companies worth 30 billion dollars, Union Minister Anurag Singh Thakur has said He also said the country is now the biggest exporter of vaccines, mobile phones and defence equipment. The Minister for Information and Broadcasting, and Youth Affairs and …

India's services exports to cross $300bn target for this fiscal: Piyush Goyal
1 year, 11 months ago

India's services exports to cross $300bn target for this fiscal: Piyush Goyal

The Hindu  

The country's services exports are doing “extremely well” and going by the current trend these outbound shipments would register about 20% growth in this fiscal and cross the $300 billion target despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. With all these stress, where every global leader is talking of “very” tough times, India's exports rose …

The global economy needs a new powerhouse. India is stepping up
1 year, 11 months ago

The global economy needs a new powerhouse. India is stepping up

Live Mint  

India’s economic transformation is kicking into high gear.Global manufacturers are looking beyond China, with Prime Minister Narendra Modi stepping up to seize the moment. “India is on the cusp of huge change,” said Nandan Nilekani, a founder of Infosys Ltd., one of the nation’s largest technology services companies. “A lot of companies feel that given its size, given its young …

Turning tide: On India’s goods exports
1 year, 11 months ago

Turning tide: On India’s goods exports

The Hindu  

India’s goods exports rebounded from a nearly 17% dip in October to a mild 0.6% uptick in November. Their share in exports growth has been shrinking since June, with the contraction accelerating for many sectors from September to November — engineering goods that drove much of India’s record $422 billion goods exports in 2021-22, contracted 11.3% while textiles fell a …

Explained | Is the economy driving with the brakes on?
2 years ago

Explained | Is the economy driving with the brakes on?

The Hindu  

The story so far: At this time last December, India’s economy was on the cusp of a fledgling recovery from the COVID-19 pandemic, though the Omicron variant posed fresh speed bumps for the rebound. As JP Morgan managing director and India chief economist Sajjid Chinoy explained at a CII economic policy summit last week, 2022 was expected to see a …

Why recession clouds in parts of the globe can hit India's economic recovery
2 years, 2 months ago

Why recession clouds in parts of the globe can hit India's economic recovery

India Today  

A day after Russia escalated the war on Ukraine by raining missiles on its capital Kyiv, the International Monetary Fund, on October 11, announced what many have been fearing—that a large part of the globe will witness recession this year or the next. The IMF has cut India’s GDP growth to 6.8 per cent for 2022-23, from 7.4 per cent …

India supplies nearly 60% of vaccines used worldwide: Nirmala Sitharaman
2 years, 4 months ago

India supplies nearly 60% of vaccines used worldwide: Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Wednesday said nearly 60% of all the vaccines used in the world are produced in India and over the decades, the country has made remarkable contribution to vaccinating the world. India today is double dosing every citizen and produced COVID-19 vaccines even during the lockdown period, she added. Launching the book India's Vaccine Growth Story …

DC Edit | The growth story continues
2 years, 6 months ago

DC Edit | The growth story continues

Deccan Chronicle  

In spite of local lockdowns and the impact of Delta and Omicron variants of the coronavirus, the Indian economy has managed to grow by 8.7 per cent in the financial year 2021-22. In contrast, consumption — both private and government — trailed investment as the government’s focus has been on creating future assets while boosting economic growth. Faster growth in …

World Economic Forum | India right example for ensuring vaccine equity, stepping up manufacturing
2 years, 7 months ago

World Economic Forum | India right example for ensuring vaccine equity, stepping up manufacturing

The Hindu  

Hailing India for ramping up its COVID-19 vaccine manufacturing at the right time and for ensuring supplies to the rest of the world, leaders at the World Economic Forum on Monday said everyone else needs to follow the Indian model to ensure vaccine equity and wider inoculation. Bucher said India has been a good example and the same needs to …

The post-pandemic economic question
2 years, 7 months ago

The post-pandemic economic question

Hindustan Times  

Unless there is a surge in Covid-19 deaths — India has learnt to manage its economy better in every successive wave — the economy is unlikely to suffer any unexpected shocks. This brings up the most important post-pandemic question: What is India’s growth potential and has the pandemic left any permanent scars on this ability? Reserve Bank of India ’s …

India's GDP Expected To Grow 9% in FY22, May Clock Over 8% Growth in FY23: PHDCCI
2 years, 8 months ago

India's GDP Expected To Grow 9% in FY22, May Clock Over 8% Growth in FY23: PHDCCI

News 18  

India’s gross domestic product is expected to have grown nine per cent in the financial year 2021-22, which is the highest among the leading economies, and the growth is likely to be over eight per cent in the current financial year, according to the PHD Chamber of Commerce and Industry. “At this juncture, the percolation of ease of doing business …

Being ready: The Hindu Editorial on vaccination and India’s third COVID-19 wave
2 years, 9 months ago

Being ready: The Hindu Editorial on vaccination and India’s third COVID-19 wave

The Hindu  

The COVID-19 pandemic is on a discernible wane. Balram Bhargava, Director-General, ICMR, said at a press conference this week that 92% of those who died of COVID-19 since January this year were unvaccinated, and underlined that vaccines and the wide vaccination coverage had played an important role in protecting hundreds of lives. The initial scepticism regarding the vaccines not having …

Economic Survey: Growth projected at 8-8.5% in 2022-23; economic activity recovers to pre-pandemic level
2 years, 10 months ago

Economic Survey: Growth projected at 8-8.5% in 2022-23; economic activity recovers to pre-pandemic level

India TV News  

Highlights Economic Survey pegs GDP growth in 2021-22 at 9.2 per cent It says that widespread vaccine coverage to support growth in next fiscal It says private sector investment to pick with financial system in good position to provide support Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey that details the state of the economy ahead of the …

Omicron worry: India's economic recovery could face disruption again, says UN
2 years, 11 months ago

Omicron worry: India's economic recovery could face disruption again, says UN

India Today  

The deadly wave of Delta variant-driven Covid infection claimed 240,000 lives between April and June last year and disrupted the economic recovery. “Similar episodes could take place in the near term,” the United Nation’s Economic forecast for India has stated, amid a rising number of Omicron infections in the country. However, India’s economic recovery is on a solid path, amid …

The economic clouds on the horizon for 2022
2 years, 11 months ago

The economic clouds on the horizon for 2022

The Independent  

Hopes that 2022 would herald a happier and more prosperous 12 months after the economic volatility of 2021 were dealt an early blow by the emergence of a new Covid-19 variant, but there are plenty of other challenges for the world economy in 2022. ONE says that some 43.2 per cent of the world’s population – 3.4 billion people, predominantly …

Strong demand, rising vaccination rate drive positive outlook for Indian corporates: Moody's
3 years ago

Strong demand, rising vaccination rate drive positive outlook for Indian corporates: Moody's

Firstpost  

In a report, the rating agency said credit fundamentals are favourable for India’s companies on a sustained economic recovery and earnings of rated companies’ will rise on strong consumer demand and high commodity prices New Delhi: Moody’s Investors Service on Thursday said India’s rising vaccination rate, low interest rates and higher public spending drive the positive outlook for corporate sector. …

Over 20 Cr Doses in Stock & More on the Way, Vaccine Surplus May Push India to Start Commercial Exports
3 years, 1 month ago

Over 20 Cr Doses in Stock & More on the Way, Vaccine Surplus May Push India to Start Commercial Exports

News 18  

Sitting on a stock of more than 20 crore Covid-19 vaccine doses, the Narendra Modi government may start commercial exports soon, a top government official said. By December, India may have excess vaccine supply with a balance of more than 30 crore doses. Meanwhile, the government has already given permission to Pune-based Serum Institute of India to export 1 crore …

India Ships Vaccines to Nepal, Bangladesh, Myanmar and Iran under 'Vaccine Maitri'
3 years, 2 months ago

India Ships Vaccines to Nepal, Bangladesh, Myanmar and Iran under 'Vaccine Maitri'

News 18  

India has recently sent crores of Covid vaccine shots to four nations in its neighborhood under the “Vaccine Maitri” programme, it was announced on Thursday. Ministry of External Affairs spokesperson Arindam Bagchi said that India has exported the Covid vaccines to Nepal, Bangladesh, Myanmar, and Iran and its “top priority” is the neighborhood countries. India resumed vaccines export in the …

India Doing Well in Terms of Vaccinating Rates; Helpful For Economy, Says IMF's Gita Gopinath
3 years, 2 months ago

India Doing Well in Terms of Vaccinating Rates; Helpful For Economy, Says IMF's Gita Gopinath

News 18  

India is doing well in terms of vaccinating its own people and this is certainly helpful in its economy, a top International Monetary Fund official said on Tuesday as the global financial institution in its latest outlook projected 9.5 per cent growth rate for India in 2021. India’s growth projection released by the latest World Economic Outlook remains unchanged from …

Explained | Why has India agreed to resume vaccine export?
3 years, 2 months ago

Explained | Why has India agreed to resume vaccine export?

The Hindu  

The story so far: With close to 85 crore doses of COVID-19 vaccine doses dispensed in India so far, Health Minister Mansukh Mandaviya earlier this week disclosed plans to resume export of the India-made vaccine from October, under a programme called ‘Vaccine Maitri’, to foreign countries as well as COVAX. According to data from the Ministry of External Affairs, as …

What to expect at the Modi-Biden summit
3 years, 3 months ago

What to expect at the Modi-Biden summit

India Today  

Prime Minister Narendra Modi is to meet US President Joe Biden for their maiden bilateral meeting in Washington DC on September 24. Climate change The two countries this year launched a new high-level team-up—the ‘US-India Climate and Clean Energy Agenda 2030 Partnership’. Both India and the US are expected to reiterate their commitment to a ‘free and open Indo-Pacific’—a region …

India to resume exporting surplus COVID-19 vaccines in October, says health minister Mansukh Mandaviya
3 years, 3 months ago

India to resume exporting surplus COVID-19 vaccines in October, says health minister Mansukh Mandaviya

Firstpost  

Addressing the media, the minister said the government will receive over 30 crore doses of COVID-19 vaccines in October and over 100 crore doses in the next three months. New Delhi: India will resume export of surplus COVID-19 vaccines in October under the ‘Vaccine Maitri’ programme and to meet its commitment to the COVAX global pool, but vaccinating its own …

India to get over 100 crore doses of Covid vaccines in next 3 months; to resume export too: Mandaviya
3 years, 3 months ago

India to get over 100 crore doses of Covid vaccines in next 3 months; to resume export too: Mandaviya

India TV News  

Union Health Minister Mansukh Mandaviya on Monday announced that the government will receive over 30 crore doses of COVID-19 vaccines in October and over 100 crore in the next three months. Export of surplus vaccines to being next month The Centre has also informed that India will resume export of surplus COVID-19 vaccines next month under the 'Vaccine Maitri' programme …

India to resume COVID vaccine exports to COVAX, neighbours
3 years, 3 months ago

India to resume COVID vaccine exports to COVAX, neighbours

Al Jazeera  

The health minister says government will prioritise the global vaccine-sharing platform and India’s neighbouring countries. India will resume exports of COVID-19 vaccines from the next quarter, prioritising the global vaccine-sharing platform COVAX and neighbouring countries first as supplies rise, according to the health minister. The country’s monthly vaccine output has since more than doubled and is set to quadruple to …

India’s vaccine drive remarkable: Melinda Gates
3 years, 3 months ago

India’s vaccine drive remarkable: Melinda Gates

Hindustan Times  

In an emailed interview to Rhythma Kaul, Gates Foundation co-chair Melinda French Gates explains how the health care delivery system is going to change post Covid-19 pandemic, and how India has remarkably managed to scale up vaccinations against the virus. India’s Covid-19 management and the country-wide immunization drive have demonstrated why long-term investments in health systems are crucial. In particular, …

Explained: Is India's economy gaining immunity against Covid-19?
3 years, 3 months ago

Explained: Is India's economy gaining immunity against Covid-19?

India Today  

India’s economy is on track to rebound sharply after two waves of the Covid-19 pandemic dampened growth during all four quarters of FY21. A majority of financial analysts predict GDP growth at 18-20 per cent in the June quarter and remain optimistic about economic recovery in upcoming quarters as the second wave fades and more Indians get vaccinated against the …

India impossibly short of vaccinating its entire adult population against COVID-19 by the end of 2021
3 years, 4 months ago

India impossibly short of vaccinating its entire adult population against COVID-19 by the end of 2021

The Hindu  

India’s vaccine drive is increasingly looking like a limited overs cricket match in which the chasing team’s asking rate climbs higher and higher and out of reach because the strike rate hopelessly trails the required rate. In fact, the achievements on the vaccine front have fallen far short of the Narendra Modi government’s assurance to the Supreme Court in late …

Uneven COVID-19 vaccine distribution may hamper economic recovery in developing nations: IMF
3 years, 4 months ago

Uneven COVID-19 vaccine distribution may hamper economic recovery in developing nations: IMF

Firstpost  

IMF chief economist Gita Gopinath flagged the “widening gap” as advanced economies grow faster and developing nations, especially in Asia, slow. World GDP will expand by six percent this year, unchanged from the April forecast, but IMF chief economist Gita Gopinath flagged the “widening gap” as advanced economies grow faster and developing nations, especially in Asia, slow. The Washington-based crisis …

The vaccination drive is entering a challenging phase. Change strategies
3 years, 4 months ago

The vaccination drive is entering a challenging phase. Change strategies

Hindustan Times  

Despite improvements in daily vaccination numbers and the promise of increased supply, challenges persist in India’s vaccination drive. In mass public health campaigns, initial returns are often high on account of governments reaching the easily accessible sections quickly, and rapid coverage of the affluent and the non-hesitant population. In such circumstances, incentives to promote vaccination could become crucial to speed …

Actively Pursuing Enhancement of Vaccine Availability Through Imports: Govt
3 years, 5 months ago

Actively Pursuing Enhancement of Vaccine Availability Through Imports: Govt

News 18  

The government on Thursday said it is “actively pursuing” the enhancement of Covid vaccine availability through imports and reiterated that its current focus is on purposing domestic production towards its vaccination programme. At an online media briefing, Ministry of External Affairs Spokesperson Arindam Bagchi said India hopes that individual countries would increasingly recognise made-in-India vaccines. “Let me reiterate that our …

‘Economic impact of 2nd wave to be softer’
3 years, 6 months ago

‘Economic impact of 2nd wave to be softer’

Live Mint  

The economic fallout of the second wave of the pandemic will remain restricted to the June quarter, although access to vaccines and revival in private consumption will determine the durability of India's economic recovery, Moody’s Investors Service said on Wednesday. "Although contact-intensive sectors may continue to be hit harder than the rest of the economy, the economic damage from the …

India’s first-day record vaccination pace unsustainable: Experts
3 years, 6 months ago

India’s first-day record vaccination pace unsustainable: Experts

Al Jazeera  

Experts say the rate is not sustainable, a day after India administered a record 8.6 million doses of COVID vaccine. Health experts say India’s vaccinations over the next few weeks could fall short of the blistering pace set on the first day of a federal campaign unless it makes inroads in a vast hinterland and bridges a shortage of doses. …

AP Interview: India says it hopes to resume vaccine exports
3 years, 6 months ago

AP Interview: India says it hopes to resume vaccine exports

Associated Press  

NEW DELHI — India, the world’s largest manufacturer of vaccines, wants to resume exports of coronavirus jabs but can’t do so until its domestic needs are met, the head of the country’s COVID-19 task force said Friday. “Once our immediate need of vaccinating a significant proportion of Indian people is achieved and vaccine stockpiles are visible from multiple sources, we …

After an Unviable Experiment, Vaccine Recentralisation Will Rejuvenate India's Covid Battle
3 years, 6 months ago

After an Unviable Experiment, Vaccine Recentralisation Will Rejuvenate India's Covid Battle

News 18  

India is on the cusp of administering 25 crore Covid-19 jabs this week, more than the population of every other country in the world except Indonesia, the United States of America and, of course, China. On June 7, Prime Minister Narendra Modi in his address to the nation confirmed that the central government will provide free vaccines to all Indian …

India's factory activity growth slipped in May as demand fell
3 years, 6 months ago

India's factory activity growth slipped in May as demand fell

India Today  

India's factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday. India has already reported around 28 million coronavirus cases and over 300,000 deaths, leading many states to impose restrictions affecting economic activity. Read | Core …

Need to Raise Vaccination Pace to Lower Chances of Another Covid Wave: CEA
3 years, 6 months ago

Need to Raise Vaccination Pace to Lower Chances of Another Covid Wave: CEA

News 18  

Chief Economic Adviser KV Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country’s economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending …

Indian economy's ability to rebound on test amid threats from second wave
3 years, 6 months ago

Indian economy's ability to rebound on test amid threats from second wave

Hindustan Times  

The Indian economy’s resilience will be tested by its ability to overcome a devastating outbreak of Covid-19, although no one’s yet doubting its potential to pull off the world’s fastest pace of growth among major economies this year. Data due later Monday will probably show gross domestic product grew 1% in the three months ended March, making it the second …

The economic crisis is real; the picture of economic resilience is an illusion
3 years, 6 months ago

The economic crisis is real; the picture of economic resilience is an illusion

The Hindu  

As the ongoing second wave of coronavirus infections in India peaks, there is little clarity on what its economic fallout is and will be. Two assessments from official sources—one from the Reserve Bank of India, titled The State of the Economy and the other from the Ministry of Finance, titled Month Economic Report for May—seem to suggest that economic trends …

India’s economic report card is drenched in red ink
3 years, 6 months ago

India’s economic report card is drenched in red ink

Live Mint  

India’s nascent economic recovery has been derailed by the second covid-19 wave even before it could gather steam. Launched in October 2018, Mint’s macro tracker provides a monthly state-of-the-economy report based on trends in 16 high-frequency indicators across four segments: consumer economy, producer economy, external sector, and ease of living. A year ago, during the first nationwide lockdown, 13 of …

India Will be Able to Vaccinate All Adults by 2021 End: Health Min
3 years, 7 months ago

India Will be Able to Vaccinate All Adults by 2021 End: Health Min

The Quint  

According to The Economic Times, he asked the states to follow the basic principles of COVID-19-appropriate behaviour along with testing, tracking, tracing, treating and now vaccinating to fight against the pandemic. He also highlighted that daily recoveries have outnumbered the daily new COVID cases for the last eight days consistently. Underscoring the critical importance of the vaccination drive, the minister …

Covid Crisis in India a Warning of Possible Events in Other Low and Middle-income Countries: IMF
3 years, 7 months ago

Covid Crisis in India a Warning of Possible Events in Other Low and Middle-income Countries: IMF

News 18  

Observing that the ongoing “catastrophic” second wave of COVID-19 in India is a sign that the worst may be yet to come, the IMF has said that the situation in the country is a warning of the possible events in low- and middle-income nations that have seemingly escaped the pandemic till now. For India, the report said, current bilateral purchases …

India unlikely to resume sizeable Covid vaccine exports until October: Report
3 years, 7 months ago

India unlikely to resume sizeable Covid vaccine exports until October: Report

India Today  

India is unlikely to resume major exports of Covid-19 vaccines until at least October as it diverts shots for domestic use, three government sources said, a longer-than-expected delay set to worsen supply shortages from the global Covax initiative. Battling the world's biggest jump in coronavirus infections, India halted vaccine exports a month ago after donating or selling more than 66 …

Never exported vaccines at the cost of people of India, says Serum Institute of India
3 years, 7 months ago

Never exported vaccines at the cost of people of India, says Serum Institute of India

The Hindu  

The Serum Institute of India on Tuesday said it had never exported vaccines at the cost of the people of India and that it was committed to doing everything possible to support the vaccination drive in the country. “At that stage, most people including health experts believed that India was turning the tide on the pandemic,” it said. The SII …

India Unlikely to Resume Sizable Covid-19 Vaccine Exports Until October: Report
3 years, 7 months ago

India Unlikely to Resume Sizable Covid-19 Vaccine Exports Until October: Report

News 18  

India is unlikely to resume major exports of Covid-19 vaccines until at least October as it diverts shots for domestic use, three government sources said, a longer-than-expected delay set to worsen supply shortages from the global COVAX initiative. Battling the world’s biggest jump in coronavirus infections, India halted vaccine exports a month ago after donating or selling more than 66 …

Second wave of Covid infections can imperil India's economic recovery, says S&P
3 years, 7 months ago

Second wave of Covid infections can imperil India's economic recovery, says S&P

India Today  

Second wave of Covid-19 infections can imperil India's economic recovery, says American credit rating agency S&P. In its assessment, S&P said, "In a moderate scenario in which the pandemic peaks later this month, GDP for the full fiscal year could drop by another 1.2 per cent." Learn more: https://t.co/BG2hipATS7 pic.twitter.com/9sQUOuP5IZ — S&P Global Ratings May 13, 2021 However, S&P goes …

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