Unified Payments Interface (UPI), a flagship initiative by the National Payments Corporation of India (NPCI), has transformed India’s financial ecosystem. In October 2024, UPI processed a record-breaking 16.58 billion transactions, worth ₹23.49 lakh crore, showcasing its pivotal role in driving the country’s shift towards a cashless economy. The Numbers Behind UPI’s Success The growth trajectory …
The Indian stock markets have been riding a high wave throughout much of 2024, with benchmark indices like the BSE Sensex and NSE Nifty reaching record peaks in September. The Sensex hit an all-time high of 85,978.25, while the Nifty touched 26,277.35. However, the euphoria was short-lived as the markets entered a correction phase from …
India’s rapidly advancing semiconductor industry is exemplified by the development of a cutting-edge semiconductor unit in Morigaon, Assam. Spearheaded by Tata Semiconductor Assembly and Test Pvt Ltd (TSAT), this facility is poised to become one of the country’s flagship manufacturing sites. With a planned investment of ₹27,000 crore, it aims to produce up to 48 …
In October 2024, India’s retail inflation rose to 6.2%, the highest in 14 months, up from 5.5% in September. Onion and tomato prices, which are major components of a typical thali, surged by 46% and 51%, respectively, due to poor harvests caused by heavy rainfall in key growing regions, as per the CRISIL MI&A Research …
In recent weeks, financial markets have shown significant volatility. The equity market has witnessed a decline, with indices dropping sharply. The benchmark index fell to 23,535.40, marking a 6.34% drop over the past month. Similarly, another key index declined by 5.37%, reaching 77,573.12. Despite these downturns, investor sentiment appears more resilient compared to previous periods …
India’s retail inflation rose to 6.2% in October, the highest in 14 months, up from 5.5% in September. This spike has been primarily driven by a sharp increase in food inflation, particularly in vegetable prices, which push overall inflation upward. Key Drivers of Inflation in October Food inflation reached double digits in October, hitting 10.9% …
In Q3 2024 (per the US financial calendar), India secured its position as a dominant player in the global IPO landscape, achieving a 36% share of all global listings. This impressive feat outpaced even the United States, which accounted for just 13%. India recorded its highest quarterly listings in the last two decades with record-breaking …
India’s Gen Z, an estimated 37.7 crore strong, is reshaping the country’s consumer market. This tech-savvy, trend-driven generation is set to become a major economic force, influencing up to 43% of household consumption. With many entering the workforce, their impact on spending patterns is undeniable. Gen Z currently contributes $860 billion to the economy, with …
India possesses a significant amount of coal reserves, having 5th rank across the world. India is the 2nd largest consumer of coal globally, driven by its rapidly growing economy. However, the country faces a critical shortfall in domestic reserves for specific types of coal, notably coking coal and high-grade thermal coal, which are vital for …
As the United States gears up for its 2024 presidential election, global markets including India’s equity market, are closely watching the developments across the Atlantic. Donald Trump and Kamala Harris, are both campaigning heavily for the scheduled November 5, 2024 Presidential election voting. The US elections not only shape domestic policies but also have far-reaching …
