India’s wholesale price inflation edged up to 1.31% in August 2024 compared to the same month last year. This modest increase, based on the Wholesale Price Index (WPI), was primarily driven by rising prices in food articles, processed food products, textiles, machinery, and other manufactured goods. However, the month-over-month change in WPI for August was …
India’s trade performance in August 2024 presented a mixed picture, with exports declining slightly while imports continued to rise. While the overall trade deficit for the month widened, the cumulative figures for the April-August period showed positive growth in both exports and imports. Merchandise Trade Exports: India’s merchandise exports in August 2024 decreased by 2.38% …
The IIP for July 2024 grew by 4.8%, up from 4.7% in June. This growth was driven by increases in all three sectors: Mining (3.7%), Manufacturing (4.6%), and Electricity (7.9%). Key Highlights Quick Estimates: The IIP stood at 149.6 in July 2024 compared to 142.7 in July 2023. Sectoral Indices: Indices for Mining, Manufacturing, and …
Union Minister of Commerce & Industry, Shri Piyush Goyal, has expressed unwavering confidence in the Indian auto component sector’s ability to achieve a staggering $100 billion export target by 2030. This ambitious goal positions the sector as a key driver of job creation in the country. The Minister made this statement during the 64th Annual …
India, the world’s third-largest emitter, faces a daunting challenge in achieving its net-zero ambitions by mid-century. A recent report by BloombergNEF (BNEF) underscores the urgency of this task, highlighting the need for a drastic reduction in emissions from the country’s high-polluting power industry by 2026. However, the government’s continued reliance on coal, a major contributor …
Indian Railways continues to demonstrate its pivotal role in the nation’s economy, achieving remarkable freight loading statistics for August 2024. The Railway Board announced that a total of 126.97 million tonnes (MT) of freight was loaded in August alone, contributing to a cumulative total of 653.22 MT for the financial year 2024-25. This impressive performance …
The Indian government has implemented a significant policy change, permitting sugar mills to utilise a wider range of sugar derivatives for ethanol production. This shift announced in a notification on August 29, 2024, is designed to bolster ethanol output and reduce reliance on fossil fuels. Effective November 1, 2024, sugar mills will be allowed to …
The World Bank increased its growth forecast for India to 7% for the current financial year, up from the previous estimate of 6.6%. This upgrade is attributed to increased government spending on infrastructure. According to the World Bank’s India Development Update report, the growth was driven by investments in public infrastructure and a rise in …
The Indian life insurance sector witnessed a surge in July, with the total annualised premium equivalent (APE) experiencing a substantial 16.9% year-on-year increase. This growth was primarily fueled by the private sector, demonstrating a remarkable 18% rise in APE. Life Insurance Corporation of India (LIC), the country’s largest insurer, recorded a more moderate growth of …
The Reserve Bank of India (RBI) has taken a significant step to encourage wider foreign participation in India’s sovereign green bonds (SGrBs). The central bank has introduced a new scheme that allows foreign investors in the International Financial Services Centre (IFSC) to invest directly in these environmentally-friendly securities. SGrBs, issued by the Indian government, are …
