The Indian retail sector has become one of the most dynamic and rapidly evolving industries, driven by the influx of new players and innovative business models. According to IBEF, as of November 2024, the retail industry contributes over 10% to the country’s Gross Domestic Product (GDP) and provides employment to nearly 8% of the workforce. …
In a strategic move ahead of Union Budget 2025, the Appointments Committee of the Cabinet (ACC) approved significant changes to top positions within the Ministry of Finance. These changes, announced on Wednesday, January 8, 2025, reflect the government’s focus on gearing up for the budget presentation on February 1 by Finance Minister Nirmala Sitharaman. Key …
In a record-breaking move, India has revised its November 2024 gold import estimates downward by a staggering $5 billion. This unprecedented adjustment follows errors in preliminary calculations that initially reported a historic high in gold imports. The correction has significant implications for the country’s trade deficit and financial market outlook, shedding light on the intricacies …
As India gears up for the Union Budget 2025, the Technology, Media, and Telecommunications (TMT) sectors are keenly awaiting potential policy measures that could drive their growth and streamline operations. Recently, a report has been published by Deloitte, talking about the expectations of different sectors from the Union Budget 2025. With the growing importance of …
The Indian automobile industry has always been a good indicator of the country’s economic health, as it contributes to both economic growth and technological development. The two-wheeler segment, in particular, keeps seeing strong growth due to the rising middle class and India’s young population. Additionally, the increasing interest from companies in rural markets has further …
As India prepares for the Union Budget 2025, the financial services sector is keenly anticipating reforms that will enhance growth and sustainability. The finance minister will present the budget on February 1, 2025, amid a backdrop of strong economic performance, including a 7.6% real GDP growth in 2023-24, record-high foreign exchange reserves, and a rapidly …
On January 08, 2025, the Indian rupee traded at 85.82 to the U.S. dollar, up nearly 0.01% against 85.72 at the previous close yesterday. The currency hit its all-time low of 85.84 on Monday. Dollar Strength Weakens Asian Currencies U.S. job openings data released on Tuesday showed a rise in jobs openings to 8.098 million, …
India’s Gross Domestic Product (GDP) is projected to grow at 6.4% in the fiscal year 2024-25, according to the first advance estimates released by the government on Tuesday. This represents a significant slowdown, marking a 4-year low and a sharp decline from the 8.2% growth recorded in FY24. Decline from Previous Estimates The projected GDP …
According to Indian Railways estimates, the Ministry of Railways had utilised 76% of its allocated capital expenditure (capex) for the financial year 2024-25 (FY25) by December 2024. The total expenditure as of January 5, 2025, amounts to ₹2.02 trillion out of the ₹2.65 trillion budgeted for the year. Breakdown of Expenditures Gross Budgetary Support: ₹1.91 …
Brazil, the current presiding nation of BRICS, has officially announced Indonesia’s full membership in the bloc. This significant development follows the inclusion of Iran, Egypt, Ethiopia, and the UAE in 2023, marking a continued expansion for the group of developing economies. Indonesia, the world’s fourth-most populous country, finalised its membership decision in August 2023 but …
