Indian Economy: News
India's services sector grows at fastest pace in 10 months
India's services sector witnessed its strongest growth in the last 10 months in June, driven by strong demand and easing price pressures.
India's manufacturing growth hits 14-month high on robust demand
India's manufacturing sector has witnessed a major boost, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) hitting a 14-month high of 58.4 in June.
India's industrial output slows to 9-month low: Here's why
India's industrial output expanded by just 1.2% in May, marking the slowest growth in nine months, according to official data released Monday.
India's digital consumer market to surpass $1 trillion by 2030
India's digital consumer market is expected to surpass the $1 trillion mark by 2030, a new report from Bessemer Venture Partners has said.
India's core sector growth declines to 9-month low in May
The output of India's eight core infrastructure sectors—which together make up about 40% of the country's industrial production—rose by just 0.7% year-on-year in May.
India's services sector hits 3-month high on strong demand
India's services sector activity has witnessed a significant upswing, hitting a three-month high of 58.8 in May.
India's Q4 GDP hits 7.4%—but FY25 growth at 4-year low
India's economy grew at a four-quarter high of 7.4% in the January-March period, government data released on Friday showed.
India to outpace global economies with 6.5% growth in FY26
India is set to retain its status as the world's fastest-growing major economy in FY26, according to the Reserve Bank of India's (RBI) annual report.
Wholesale inflation in India declines to 0.85%—lowest in 13 months
India's wholesale inflation rate for April has hit a 13-month low, partially due to moderating food prices.
India to surpass Japan as fourth-largest economy this year: IMF
India is set to overtake Japan as the world's fourth-largest economy later this year, data from the International Monetary Fund (IMF) shows.
Without 8M jobs a year, India may miss 2047 goal
India needs to create at least eight million jobs annually in the next decade or so, to achieve its goal of becoming a developed nation by 2047.
India's retail inflation in March hits 5-year low of 3.3%
India's retail inflation rate plunged to 3.34% in March, its lowest since September 2019.
India's trade deficit widens to $21.5B as Trump's tariff loom
India's trade deficit for March has widened to $21.54 billion, exceeding the $16 billion mark anticipated by economists, according to a Reuters poll.
India's diesel demand hits 4-year low—Here's why
India's diesel demand growth has hit its slowest since the pandemic, with a meager 2% rise in FY2024-25.
India's diamond exports plunge to 20-year low—Here's why
India's exports of cut and polished diamonds have hit a 20-year low in the 2024-25 fiscal year, ending in March.
Trump's tariffs: 26% duty on India kicks-in amid global uncertainty
The 26% import tariff on Indian goods, introduced under US President Donald Trump's expansive trade agenda, officially came into effect today.
India's manufacturing activity hits 8-month high in March
India's manufacturing sector witnessed a strong rebound in March, with the HSBC India Manufacturing Purchasing Managers's Index (PMI) hitting an eight-month high of 58.1.
India's retail inflation cools to 7-month low of 3.6%
India's retail inflation fell to a seven-month low of 3.61% in February, government data released on Wednesday showed.
Service sector drives India's growth but manufacturing shows weakness
India's service sector improved considerably in February, with the activity index climbing to 59 from January's 56.5, as per HSBC India Manufacturing Purchasing Managers' Index.
India's manufacturing sector growth falls to 14-month low in February
India's manufacturing sector slowed down in February, recording the weakest growth in over a year.
India's Q3 GDP growth hits 6.2%, FY25 forecast at 6.5%
India's economy grew by 6.2% year-on-year in the third quarter (Q3) of the current fiscal year (FY25), government data released on Friday showed.
India's 2047 vision: 8-10% growth needed to achieve developed status
India needs to grow at an annual rate of 8-10% to become a developed economy with a GDP of $23-$35 trillion by 2047, a report by Bain & Company has said.
India's youth unemployment rate stands at nearly 16% in Q3
India's youth unemployment rate continued to be high at 15.9% in the third quarter of the year, according to the latest report by the Ministry of Statistics and Programme Implementation.
India's wholesale inflation eases to 2.31% in January
India's wholesale inflation saw a marginal decline in January, falling to 2.31% from December's 2.37%, as per government data released today.
India's January inflation cools to 4.31% as food prices moderate
India's retail inflation has witnessed a sharp decline, dropping to 4.31% in January from 5.22% in December last year.
India's factory activity in January hits 6-month high
India's factory activity witnessed a major spike in January 2025, recording the fastest growth rate in six months.
India's creator economy triples in 5 years—fashion, gaming influencers lead
India's creator economy has seen a major growth in the last five years, with the number of influencers growing to over four million from under a million in 2020.
India stares at slowdown—Economic Survey pegs FY26 GDP below 7%
The Economic Survey 2024-25 projected India's real Gross Domestic Product (GDP) growth for FY26 at 6.3%-6.8%.
India's business activity hits 14-month low in January
India's business activity recorded its slowest growth rate in over a year, as per the HSBC Flash India Composite Purchasing Managers Index (PMI) conducted by S&P Global showed.
India's wholesale inflation rises in December, food inflation nears 9%
India's wholesale inflation, measured by the Wholesale Price Index (WPI), increased to 2.37% in December from 1.89% in November, despite a marginal change in food prices.
Indian fintech start-ups raised $1.9B in 2024, down 32% YoY
Indian fintech start-ups raised a total of $1.9 billion in funding last year, according to Tracxn's annual Fintech Report.
Indian rupee weakens to lifetime low of 86.2 per USD
The Indian rupee opened at a record low of 86.20 against the US dollar, depreciating five paise from its previous close.
HSBC downgrades India to 'neutral,' sees 10% upside for Sensex
HSBC has downgraded its India outlook from 'overweight' to 'neutral,' with a BSE Sensex target of ₹85,990 for 2025.
India's GDP growth projected to hit 4-year low in FY25
India's Gross Domestic Product (GDP) is expected to grow at 6.4% in FY25, the slowest pace in four years. This is a sharp decline from the previous fiscal year's growth rate of 8.2%.
Rural poverty in India falls below 5% for first time
Rural poverty in India has witnessed a sharp decline, dropping below 5% for the first time in FY 2023-24. The finding comes from a recent SBI Research study.
India's manufacturing activity hits 12-month low in December 2024
India's manufacturing sector slowed down in December 2024, with the Purchasing Managers's Index (PMI) falling to a 12-month low of 56.4.
INR devaluation to 9% GDP: Manmohan Singh's critical economic reforms
Manmohan Singh, the architect of India's economy and former Prime Minister, has died at the age of 92.
Indian rupee in freefall? Why it keeps hitting record lows
The Indian rupee has witnessed a record fall against the US dollar, hitting an all-time low of 85.21 on Tuesday. This is the six straight session of decline for the currency.
RBI lowers FY25 GDP growth forecast from 7.2% to 6.6%
The Reserve Bank of India (RBI) has lowered its growth projection for India's Gross Domestic Product (GDP) for the fiscal year 2025.
India's Q2 GDP growth shrinks to 5.4%, lowest in 7-quarters
India's Gross Domestic Product (GDP) growth fell to a seven-quarter low of 5.4% in the second quarter of FY25, data released by the Ministry of Statistics and Programme Implementation today showed.
Why S&P has lowered India's growth targets for FY26, FY27
S&P Global Ratings has kept its GDP growth forecast for India unchanged at 6.8% for fiscal year 2024-25.
India's trade deficit widens to over $27 billion in October
India's merchandise trade deficit widened to $27.14 billion in October, significantly up from $20.8 billion in September due to a faster growth rate in imports, data released today shows.
India's wholesale inflation hits 4-month high on rising food prices
India's wholesale inflation rose to a four-month high of 2.4% in October, significantly up from last month's 1.84%.
India's services sector soars in October, hiring at 2-year high
India's services sector has shown remarkable growth in October, after a minor slowdown in September.
India's manufacturing activity rebounds from 9-month low in October
India's manufacturing sector has staged a remarkable comeback, with the Purchasing Managers's Index (PMI) climbing to 57.5 in October.
Karva Chauth to boost India's economy by ₹22,000cr: Here's how
The upcoming festival of Karva Chauth is set to give a major boost to the Indian economy.
Inflation: Food prices rise 9.5% year-on-year in September
India's Wholesale Price Index (WPI) based inflation has risen to 1.84% in September.
Indian rupee drops to lifetime low against US dollar
The Indian rupee (INR) has witnessed a sharp fall, breaching the 84 mark against the US dollar for the first time ever today.
Sitharaman predicts $2,000 increase in per capita income by 2029
Finance Minister Nirmala Sitharaman has projected a significant increase in India's per capita income over the next five years.
India's digital economy projected to reach $1 trillion by 2028
India is on track to become a $1 trillion digital economy by 2028, according to a report by Ask Capital.
India's manufacturing growth hits 8-month low in September
India's manufacturing sector is feeling the pinch, hitting an eight-month low in September.
RBI poised to cut interest rate starting December: UBS report
The Reserve Bank of India's Monetary Policy Committee (MPC) is expected to initiate a reduction in interest rate from December this year, as per a report by UBS.
Foreign investors pour $5.9 billion into Indian markets in September
India has emerged as a leading destination for foreign portfolio investors (FPIs), attracting a net investment of $5.9 billion into domestic stocks this month alone, according to Bloomberg data.
India topples China to lead MSCI Emerging Markets index
India has outperformed China to become the world's largest MSCI Emerging Markets (EM) market, according to the latest data from the MSCI EM Investable Market Index (IMI).
Wholesale inflation in India cools down to 1.31% in August
India's wholesale inflation has dipped below 2% for the first time in four months. The decrease is attributed to a reduction in commodity and food prices.
India's Q1FY25 GDP growth decelerates to 5-quarter low at 6.7%
India's gross domestic product (GDP) growth for the first quarter (April-June) of the current financial year 2024-25 has dipped to a five-quarter low of 6.7%, government data released on Friday has revealed.
At 21, Zepto co-founder youngest on 2024 Hurun India Richlist
The latest edition of the Hurun India Richlist is now official.
India's fiscal deficit decreases significantly to 8% of annual target
India's fiscal deficit, a crucial indicator of its financial health, has narrowed significantly in the first quarter of FY25.
India's wholesale food inflation touches 20-month high in June
India's wholesale inflation in June soared to a 16-month high of 3.4%, a significant increase from May's 2.6%, according to government data released today.
Tax relief imperative? Why Budget 2024 needs standard deduction hike
India's Finance Minister Nirmala Sitharaman is anticipated to increase the standard deduction limit in the upcoming budget, potentially bringing good news to individuals earning salary and pension.
India's service sector booms in June, record exports fuel growth
India's service sector activity experienced a surge in June, reaching 60.5 from May's five-month low of 60.2, according to HSBC India Services Business Activity Index.
India's manufacturing expands in June, PMI rises to 58.3
India's manufacturing sector experienced a surge in June, with the Manufacturing Purchasing Managers's Index (PMI) rising to 58.3 from May's three-month low of 57.5.
Fitch raises India's FY25 economic growth forecast to 7.2%
Fitch Ratings has revised its economic growth forecast for India in FY25 to 7.2%, up from the previous projection of 7% made in March.
RBI ups India's GDP growth forecast to 7.2% for FY25
The Reserve Bank of India (RBI) has revised its real gross domestic product (GDP) projection for the fiscal year 2024-25 to 7.2%, a slight increase from the earlier estimate of 7%.
India's service sector growth hits five-month low in May
India's service sector growth slowed to a five-month low in May, as indicated by the final HSBC India Services purchasing managers' index (PMI) compiled by S&P Global.
India's GDP exceeds expectations with 7.8% growth in Q4
India's gross domestic product (GDP) has surpassed analysts' predictions, registering a growth of 7.8% in the final quarter of FY24, as per data from the Ministry of Statistics and Programme Implementation (MOSPI).
RBI's balance sheet grows by 11% to nearly ₹70.5L crore
The Reserve Bank of India (RBI) has reported an 11.08% increase in its balance sheet size for FY2024, reaching ₹70.48 lakh crore as of March 31.
S&P upgrades India's economic outlook for first time since 2010
S&P Global Ratings has revised its outlook for the Indian economy from 'stable' to 'positive', while maintaining rating at 'BBB-', the lowest investment grade rating.
UN raises India's 2024 GDP growth forecast to 6.9%
The United Nations (UN) has updated its economic growth projections for India in 2024, predicting a nearly 7% expansion, an increase from the previous forecast of 6.2% made in January.
Morgan Stanley forecasts no rate cuts for India in 2024-25
Morgan Stanley's team of analysts predicts that India is unlikely to lower its interest rates in the fiscal year 2024-25.
Indian economy to see its fastest growth in a year
India's economy surged from 6.1% in the January-March quarter to 7.7% in the April-June quarter, the fastest since April-June 2022, according to the median projection in a Reuters poll of economists.
Indian economy 'very strong,' will grow at 5.9%: IMF chief
The International Monetary Fund (IMF) on Tuesday slashed the growth projection for India from 6.1% to 5.9% for the financial year 2023-24. However, Daniel Leigh, the division's World Economic Studies chief, praised India, calling it one of the bright spots in the current global economy.