Geopolitics is most important; Ukraine bombardment, Houthi attacks pose significant dangers, says JPMorgan
In an interview with ET, Jamie Dimon, CEO of JPMorgan, emphasized that geopolitics will shape the global Economy more than finance. He highlighted the resilience of the US dollar and discussed interest rate movements in the US and Japan. Dimon also addressed geopolitical risks, oil prices, and India's economic progress under PM Modi's leadership. Key Points
Economic TimesMiddle-class Americans are falling behind
Middle-class income growth has lagged behind that of the upper class since 1970. The cost-of-living crisis is exacerbating that long-term squeeze. Key Points
CNNInflation, wars creating risks not seen since WWII: JPMorgan CEO
The United States’ most influential banker, JPMorgan Chase CEO Jamie Dimon, told investors on Monday that he continues to expect the US Economy to... Key Points
The Tribune IndiaAre select metals prices indicating China’s economic revival? 5 metal stocks with upside potential of up t
Few days back, there was a sudden spurt in oil prices, though they might have cooled down a bit. The question is why this sudden spurt when there has not been any rise in tension in the Middle east and it is not even the peak season where demand for heating oil could have led to sudden rise. Now combine this with price trends in some non ferrous metals like copper which have inched upward to form a one year high. While to some it might appear far-fetched at this point of time as there have been many false starts, are the commodity markets giving an indication that finally there are some green shoots in the Chinese economy? The risk is the US election result. Will the election results help in resolving the trade issue or continuation of the issues ? Key Points
Economic TimesIndia may transform into an upper middle income Economy by FY33-36: India Ratings and Research
Listing out various scenarios, the agency said that to become a $5 trillion Economy by FY30 with per capita income of $ 3,467, the Economy would require a real GDP growth rate of 6.25%, GDP deflator growth 3.5% and INR/USD depreciation 3.25%. But to transform to a $5 trillion Economy by FY2029 with capita income of $ 3,530, real GDP growth per annum would have to be faster at 8%. Key Points
Business Today
India to transition to middle-income Economy by FY36; hit $15 trillion mark by FY47
India's Economy is projected to become an upper middle-income country, reaching a $15 trillion mark by FY47. Achieving sustained high growth rates and overcoming challenges posed by global demand and trade are crucial for India's transition to a developed economy. Key Points
Economic TimesChina must do more to lift employment, stabilise housing market: Officials
International Business News: China acknowledges the need to boost employment and stabilize the property market. Youth unemployment reaches an unprecedented 21.3%. Major property d Key Points
Times Of India'India poised to see strengthening of its economic & geopolitical role in the coming decades'
A panel of global economists, including Nobel laureate Michael Spence, discussed India's potential for economic and geopolitical prominence in the coming years at Bennett University. Spence praised India's digital Economy and predicted it would drive the country's growth and global influence. Key Points
Economic TimesGDP shrinking, Japan, UK slip into recession
Japan’s Economy fourth largest, behind Germany. Japan and Britain are among the Group of Seven advanced economies that have slipped into a recession.... Key Points
The Tribune IndiaIndia needs to grow at 9-10 per cent for 3 decades to be USD 35 trillion Economy by 2047, says G20 Sherpa Amitabh Kant
Kant says India created digital identity of 1.4 billion people and technologically the country has leapfrogged. India needs to grow at an annual rate of 9-10... Key Points
The Tribune India
India needs to grow at 9-10pc for 3 decades to be USD 35 trn Economy by 2047: Amitabh Kant
India aims to become a USD 35 trillion Economy by 2047, surpassing Japan and Germany. Constant innovation and disruptions are needed in various sectors, including digital identity, start-ups, artificial intelligence, logistics, health, education. Young entrepreneurs play a crucial role in population-scale innovation. Former NITI Aayog CEO Amitabh Kant said that India created the digital identity of 1.4 billion people and technologically the country has leapfrogged. Key Points
Economic TimesIndia successfully built best digital economy, finance architecture in world: Nobel laureate economist A M
Nobel laureate economist A Michael Spence praised India for its successful development of the best digital Economy and finance architecture in the world. Spence also noted that the global Economy is undergoing a regime change due to factors such as pandemics and geopolitical tensions. He highlighted the need for diversified supply chains and discussed the potential of science and technology in enhancing human welfare. Key Points
Economic TimesAll is well: FM Sitharaman rubbishes claims of Indian economy’s ‘K-shaped’ unequal growth
In a post-Budget 2024 interaction, Finance Minister Nirmala Sitharaman dismissed assertions of a K-shaped recovery in India's post-COVID-19 economy, challenging critics who link good growth solely to rural luxury purchases. She emphasized that the government rejects the 'letter attribution' to the economy's growth, maintaining that every sector is contributing to overall growth. Key Points
Economic TimesFM Nirmala Sitharaman called interim budget 'secularism in action', says people are recognising reforms
Sitharaman on Thursday presented her sixth consecutive budget. In less than an hour-long budget speech, she presented the Modi government’s achievements in the last 10 years that transformed India from being a ‘fragile’ Economy to the world’s fastest-growing major economy. Key Points
FirstpostStocks, dollar slip ahead of Fed decision on rates
By Herbert Lash and Tom Wilson NEW YORK/LONDON (Reuters) -World shares slipped on Wednesday, pulled lower by a slide on Wall Street, while Treasury prices rose as investors deemed the U.S. Economy was Key Points
ThePrintIndia aspires to become USD 7 trillion Economy by 2030: Finance Ministry
New Delhi [India], January 29 (ANI): India can aspire to become a USD 7 trillion Economy in the next six to seven years, the Ministry of Finance said in its monthly review report. At present, the Indian Economy is estimated to be about USD 3.7 trillion. Show Full Article “This will be a significant milestone […] Key Points
ThePrintIndian Economy likely to grow 7% next financial year: Ministry of Finance
India Business News: The Indian Economy is projected to grow close to 7% in the financial year 2024-25, driven by domestic demand and government reforms. The Ministry of Finance expects India to become the third-largest Economy by 2030. Key Points
Times Of IndiaIndian Economy to reach $5 trillion in 3 years; set to become 3rd largest economy: FinMin
As of January 29, the country's Economy has been reported to be at $3.7 trillion, marking significant growth from its position as the 10th largest Economy a decade ago, with a GDP of $1.9 trillion. Key Points
Business TodayIndia likely to keep economic growth momentum in FY25 despite risks
India expects its Economy to grow around 7% in the next fiscal year, outpacing the global economy. The growth will be supported by stable domestic demand and private investment. Recent events in the Red Sea crisis may impact global trade and supply chains, affecting trade flows, transportation costs, economic output, and inflation worldwide. Key Points
Economic TimesIndia flags four challenges as it embarks on $7 trillion Economy path
The Finance Ministry has highlighted four challenges facing the Indian economy: AI's threat to the services sector, the trade-off between energy security and economic growth, the impact of global developments, and the availability of a skilled workforce. The Interim Budget announcement is separate from the Economic Survey, which will be released before the full budget after the general elections. Key Points
Economic Times
US fourth quarter economic growth handily beats expectations
International Business News: The US Economy grew faster than expected in the fourth quarter amid strong consumer spending, defying recession predictions. Gross domestic product in the last quarter increased at a 3.3% annualized rate. Find out more about the factors contributing to the economy's resilience. Key Points
Times Of IndiaUS growth likely slowed last quarter but still pointed to a resilient economy
The U.S. Economy is expected to report a 2% annual growth rate for the fourth quarter of 2023, showcasing the unexpected resilience of the nation's Economy despite the highest interest rates in two decades. The Federal Reserve's rate hikes, aimed at curbing inflation, have not triggered a significant economic downturn, with steady consumer spending playing a crucial role in sustaining growth. Key Points
Economic TimesChina stimulus lifts local metal shares
Hindalco Industries, Tata Steel, JSW Steel, Jindal Steel and Power, Steel Authority of India, National Aluminium Co, NMDC Steel, Hindustan Copper, NMDC, and Vedanta ended 2-7% higher. The benchmark Nifty 50 closed 1% higher. Key Points
Economic TimesIndia could be USD 5 trillion Economy by 2025: Hardeep Puri
Union Petroleum Minister Hardeep Puri stated that the Indian Economy is set to reach USD 5 trillion in the next financial year (2024-25) and aims to double to USD 10 trillion by the end of this decade. Puri expressed confidence in achieving the USD 5 trillion target by 2024-25 and projected India to become a 10 trillion dollar Economy by 2030. Key Points
Economic TimesIndia's GDP to surpass $4 trillion in 2024-25: PHDCCI report
The Indian Economy is showing evidence of strong growth...It is imperative that there is a need to remain watchful and adaptable in the coming days to mitigate the dangers presented by the global Economy through carefully calibrated policy actions, the report stated. Key Points
Economic Times
Is UK facing a recession? Economy shrinks 0.1% in third quarter
Gross domestic product (GDP) contracted by 0.1% in the third quarter, the Office for National Statistics (ONS) said. | World News Key Points
Hindustan TimesEconomy gaining from manufacturing boost: Nirmala Sitharaman
The second-quarter growth was very high - it is the highest in the world, Sitharaman said, replying to a short-duration discussion on the state of the Economy in the Rajya Sabha. We continuously maintain that momentum of being the fastest-growing economy. Key Points
Economic TimesTimely policy interventions help India remain fastest growing economy: Sanjiv Puri, chairman and managing
(The) Q2 GDP numbers are a testament to how well the Economy is doing, Puri said at the Confederation of Indian Industry (CII) Global Economic Policy Forum here. And that is a result of the spirit of enterprise, resilience of people, enabled by a lot of very timely and purposeful policy interventions over several years , Sanjiv Puri said. While the government has handled inflation - which has been high due to global challenges - well, all sectors, particularly export-oriented ones, are not doing so well, Puri said. Key Points
Economic TimesJapanese tech lobby warns against EU cybersecurity labelling scheme
Lobby group Japan Association of New Economy has joined U.S. Big Tech to warn against proposed EU cybersecurity labelling rules that they said could hamper their access to the bloc's markets, according to a letter sent to the EU industry chief. Key Points
Reuters'Equitable growth': Rajya Sabha likely to discuss India's economic situation
The Rajya Sabha is scheduled to discuss India's current economic situation on Tuesday, following the acceptance of a notice by Trinamool Congress leader Derek O'Brien. The short-duration discussion on 'bolstering the Economy for equitable growth' is set for 2 pm. The Winter Session of Parliament, which began on Monday, concludes on December 22. Key Points
Economic Times
Lending to the bottom of pyramid: 4 small finance banks with upside scope of up to 36%
When it comes to the rural economy, most believe that it is auto and FMCG companies which give a good idea how the rural Economy is working, But there is another set of companies which might have a better insight on how the rural and even semi urban part of the Economy are doing because they work in this part of the country and also because of the fact of lending in those businesses which operate in the area. Despite all the headwinds, these small finance banks have been able to grow. Key Points
Economic TimesThink before bandying a baseless GDP figure about
Has our Economy exceeded $4 trillion? Let’s hold our horses and wait for official GDP estimates, which will take time to ascertain. Meanwhile, it’s unclear what tom-tomming such a figure achieves. Key Points
mintWorld Cup win & $4 tn economy? Australia dashed hopes of former, but simple math negates the latter
Govt estimates show jubilation among many, including Union ministers, over India becoming $4 trillion economy, is unfounded. Celebration was prompted by screenshot of livestream. Key Points
ThePrintHas India really become a $4 trillion economy? Not quite
India's GDP is projected to reach $4.2 trillion in FY24, with a nominal growth of 10.5%. However, it still needs to achieve a 9.1% average growth to become the third largest Economy by 2027, reaching the $5 trillion mark, and surpassing Japan as the fourth-largest Economy and Germany as the third-largest. This growth is expected to take three years. Key Points
Economic TimesPrime Minister Modi applauds record number of patents granted in 2023-24
New Delhi [India], November 17 (ANI): Prime Minister Narendra Modi has expressed appreciation for achieving the highest-ever number of patents granted during the fiscal year 2023-24. In response to a post by Union Minister of Commerce and Industry, Piyush Goyal, the Prime Minister shared his thoughts on the accomplishment. Show Full Article PM Modi posted […] Key Points
ThePrint
Not out of the woods yet, have miles to go, says RBI
The Indian Economy is “not out of the woods yet and we have miles to go”, but inflation of around 5% and 4.9% in September and October, respectively, is a “welcome relief” from the average of 6.7% in 2022-23 and 7.1% in July-August 2023, said the RBI’s monthly bulletin Key Points
The Tribune IndiaIndian Economy not out of the woods yet, have miles to go, says RBI
The Indian Economy is “not out of the woods yet and we have miles to go”, but inflation of around 5% and 4.9% in September and October, respectively, is a “welcome relief” from the average of 6.7% in 2022-23 and 7.1% in July-August 2023, said the RBI’s monthly bulletin Key Points
The Tribune IndiaWe are not out of the woods yet and have miles to go: RBI bulletin on inflation
‘Momentum of growth has picked up, taking GDP well above pre-pandemic levels to becoming the fifth largest Economy in the world at market exchange rates’. A Reserve Bank Bulletin on Thursday said retail inflation has moderated due to monetary policy action and supply side interventions, but “we are not out of the woods yet and have miles to go”. Key Points
The Tribune IndiaWhat does Fed, BoE's status quo in rates mean for the global economy?
The job growth in the US slowed by over expected and the unemployment rate increased to nearly two-year high of 3.9%, indicating that employers strong demand for workers is beginning to cool. Key Points
Economic TimesGerman Economy shrinks slightly in Q3
International Business News: Germany's Economy contracted by 0.1% in the third quarter, according to data from the federal statistics office. This is worse than the forecasted 0.3 Key Points
Times Of India
Charting the global economy: Inflation picks up in US, Tokyo
South Korea sees growth in exports after a year. Private sector activity in Europe kicked off in the year's final quarter. Key Points
Economic TimesIsrael-Hamas conflict, FOMC outcome to challenge gold traders' resilience this week
The US dollar saw a boost from a combination of lackluster corporate earnings, safe-haven demand, and signs of the US economy's resilience. Notably, the US Economy posted robust annualized growth of 4.9% in Q3 2023, despite higher interest rates. Core PCE prices and personal spending further reinforced the notion of sustained economic strength. Key Points
Economic TimesAhead of 2024 polls, RSS brass meets Shah, Sitharaman & other ministers over economic policies
BJP and RSS hold meeting to discuss strategies on how to take PM Narendra Modi's economic policies to voters. Sangh affiliates also give feedback on impact of welfare schemes. Key Points
ThePrintAsian shares track US futures higher, bonds hold gains
By Stella Qiu SYDNEY (Reuters) - Asian shares tracked Wall Street futures higher on Friday as Amazon provided some welcome earnings relief, while bonds were able to sustain a rally amid signs U.S. Key Points
ThePrintUS Economy accelerated to a strong 4.9% rate last quarter as consumers shrugged off Fed rate hikes
The Commerce Department said the Economy expanded last quarter at the fastest pace in nearly two years — and more than twice the 2.1% annual rate of the previous quarter. Thursdays report on the nations gross domestic product — the economys total output of goods and services — showed that consumers drove the acceleration, ramping up their spending on everything from cars to restaurant meals. Key Points
Economic Times
China’s export fall eases as Beijing works to bolster outlook
The International Monetary Fund (IMF) recently slashed its growth forecast for China for 2023 from 5.2% to 5%, and for the coming year from 4.5% to 4.2%. Key Points
Economic TimesDecisiveness needed for India to be third largest, says finance minister
India's Finance Minister Nirmala Sitharaman said that the country's rise to the fifth-largest Economy in the world was due to a conscious strategy and political will. She emphasized that achieving the goal of becoming the third-largest Economy would depend on political stability, policy consistency, and decisiveness. The Congress party criticized Prime Minister Narendra Modi's guarantee of India's emergence as the third-largest economy, stating that it was an arithmetical inevitability. Sitharaman highlighted the efforts of the Indian people in driving the economy's growth and warned that any instability in political will would hinder economic performance. | Latest News India Key Points
Hindustan TimesIndia's inclusion in JPMorgan Bond Index may spur inflows of $23b: FM Sitharaman
Finance Minister Nirmala Sitharaman has stated that JPMorgan's decision to include Indian government bonds in its emerging market debt index could potentially bring in around $23 billion in annual inflows. She highlighted the importance of political stability, policy consistency, and decisive reforms in driving India's economic growth. Sitharaman also emphasized the need for futuristic and reform-oriented policy-making to support business growth. The minister's comments come as India is projected to remain the world's fastest-growing Economy in 2023-24, with a growth rate of 6.1%. Key Points
Economic TimesWhy a US recession is still likely — and coming soon
A last-minute deal to avoid a government shutdown kicks one immediate risk a little further into the future. But a major auto strike, the resumption of student-loan repayments, and a shutdown that may yet come back after the stop-gap spending deal lapses, could easily shave a percentage point off GDP growth in the fourth quarter. Key Points
Economic TimesUK Economy stronger than estimates in 1st quarter: data
It is now thought that the UK Economy grew by 1.8 % between the final quarter of 2019 -- or before the start of the Covid pandemic -- and the second quarter of this year, the ONS added Friday. It previously said the UK Economy had shrunk slightly over the period. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/VBOS6V3DOFIPTF6KXP4ZSJEON4.jpg)
Take Five: Roll on Q4!
There's a looming partial shutdown of the U.S. government, embattled developer China Evergrande on the brink, and markets still adjusting to central banks' higher for longer rates mantra. Key Points
ReutersWall Street mixed, benchmark Treasury yields up before US holiday weekend
By Stephen Culp NEW YORK (Reuters) - U.S. stock indexes were mixed and benchmark Treasury yields rebounded after the much-anticipated U.S. August employment report showed an uptick in unemployment and Key Points
ThePrint