The projections indicate India’s GDP will reach 34.2 trillion international constant PPP dollars (2021) by 2038. (AI image) India may surpass the US to become the world’s second largest economy in PPP terms by 2038, according to an analysis by EY in its latest Economy Watch report. The projection assumes significance at a time when […]
US tariffs: GST reform could soften the tariff blow; BMI GDP growth outlook, lowering forecasts to 5.8% for FY2025-26
India’s proposed Goods and Services Tax (GST) reforms could help soften the blow of steep US tariffs and give a lift to household spending, BMI, a Fitch Solutions company, said on Thursday.The government is planning to lower tax rates on items commonly used by the public, a move that BMI believes will boost consumption and […]
SIP mantra: Should you invest Rs 20,000 for 15 years or Rs 15,000 for 20 years? Explained
Planning your SIP journey, but confused if you should invest more for a shorter duration or less for a long duration?When it comes to building wealth, patience and time often matter more than how much you invest each month. A small but regular contribution over a long period can create a larger corpus than investing […]
IIP data: Manufacturing lifts industrial growth to 4-month high of 3.5%; mining and power lag behind
India’s industrial production picked up pace in July, rising to a four-month high of 3.5%, driven largely by the manufacturing sector, as per official data released on Thursday. The last time the country saw a similar level of growth was in March 2025, when industrial output rose 3.9%.Measured in terms of the Index of Industrial […]
US tariffs: Duty-free cotton to boost exports; ‘make Indian textiles more competitive’ says ministry
The Centre’s move to extend the import duty exemption on cotton until 31 December 2025 is set to strengthen India’s position in global textile markets, reviving orders for small and medium enterprises as well as export-oriented units, the government said.The announcement comes at a critical time, as Indian textile exporters are worried abou the impact […]
Mutual funds’ share in household savings jumps 6x in decade on inclusion, low rates & confidence boost
MUMBAI: The share of mutual funds in the household sector’s gross financial savings increased from 0.9% in 2011-12 to 6% in 2022-23. Assets under management have grown at a compounded annual growth rate (CAGR) of 17.1%. This has made mutual funds a stabilising force in equities and helped cushion the equity market against volatility triggered […]
US tariffs: FM Sitharaman holds inter-ministerial meet; explores measures to shield exporters
Finance Minister Nirmala Sitharaman on Thursday chaired an inter-ministerial meeting to explore possible support measures for exporters hit by steep US tariffs, PTI reported cited sources.The meeting was attended by senior officials from the ministries of finance, commerce, textiles, MSMEs, chemicals and fisheries.The discussions came in the wake of Trump administration’s decision to impose a […]
US job market: Fewer Americans filed for jobless benefits; applications fell to 229,000
The number of Americans seeking unemployment benefits fell last week, suggesting companies are reluctant to lay off workers even as the economy loses momentum. For the week ending 23 August, applications for jobless aid dropped by 5,000 to 229,000, the US Labour Department reported on Thursday. The figures come at a time when the jobs […]
‘Exaggerated’: India’s gains from discounted Russia oil just $2.5 bn, says CLSA; far below estimates
India’s much-talked-about savings from importing discounted Russian oil is not as large as believed. The gains are estimated to be just $2.5 per annum, far lower than the $10–25 billion, which is often quoted in media reports, a CLSA report showed on Thursday.“Benefit from Russian oil imports is way less than exaggerated media numbers,” CLSA […]
US economy: Q2 GDP growth revised upward to 3.3%; driven by low imports and strong consumer spending
The United States economy showed stronger growth than previously estimated in the second quarter of the year, government figures showed on Thursday.According to the second estimates released by the US commerce department, the gross domestic product (GDP) rose at an annual rate of 3.3% between April and June, an upward revision from the 3.0% figure […]