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New Delhi, Dec 5 () India may be projected to become a USD 3 trillion economy, but it is lagging on creating the institutional frameworks of an ambitious middle-income emerging economy, say two former finance ministry officials.
Vijay Kelkar and Ajay Shah have come out with a book "In Service Of The Republic: The Art And Science of Economic Policy" which stands at the intersection of economics, political philosophy and public administration.
"India has come into middle income, with a USD 3 trillion economy. We had a great surge of growth from 1991 to 2011, drawing on a new intellectual framework of policy that was built from 1977 onwards. For the first time in India's history, there was a substantial decline in the number and the share of those in poverty," they say.
According to them, the period after 2011 has seen a retreat from the optimism of 1991-2011 and this is a cause for great concern.
In the book, they tell about this underperformance and how to get back on the growth turnpike.
"Intensification of the 1977-2011 strategies will not suffice: what is required is rethinking the foundations," the authors suggest.
They say economic policy operates at the intersection of economics and politics and the ideal policy pathways must be worked out on blackboards, but then the conflicts of democratic politics are played out and determine the policy choices in the real world.
"Hence, our analysis draws as much on the timeless themes of building the republic as it does on public economics. In India, the modernisation of the political system and the economy is taking place at the same time - and feeding into each other. In this process, economic policy strategy must serve the larger objective of building the republic.
"The foundations of liberal democracy - the principles of debate, dispersion of power, the rule of law and curtailing executive discretion - are integral to solving the difficulties of economic policy that afflict India today," the book, published by Penguin Random House India, says.
Kelkar, who served as Petroleum Secretary, Finance Secretary and Chairman of the Thirteenth Finance Commission of India among other responsibilities, and Shah, who worked at the Centre for Monitoring Indian Economy, Indira Gandhi Institute for Development Research and the Ministry of Finance, describe the demonetisation episode as a large shock upon the economy.
"Even if a cost-benefit analysis showed that the benefits outweighed the costs, the fact that it was a large disruption should have been a consideration in the decision," they say.
The authors assert that there is a vast array of objectives that a state can potentially pursue through government action. But there is a big gap between dilettantism in public policy and the professional capability of actually making it work.
"We need the intellectual capacity to envision how a plausible-sounding intervention will actually work out."
A recurring theme of this book is an appreciation of 'self-organising systems', of the uncoordinated decisions of individuals left to themselves, that discover order by themselves. 
"The organic development of the economic system, with freedom in the hands of each individual, works better than instructions from the top."
Referring to the problem of boom and bust in Indian agriculture, they say the price of onions surges under shortages; this attracts sowing; the price of onions crashes in a glut; this discourages sowing; and so on.
"We suffer from the cycle of boom and bust in Indian agriculture because the state has disrupted all the four forces of stabilisation - warehousing, futures trading, domestic trade and international trade," they write.
"The state makes things worse by having tools like MSP and applying these tools in the wrong way. Better intuition into the working of the price system would go a long way in shifting the stance of policy," they add. ZMN SHD
SHD

India needs institutional frameworks of middle-income emerging economy: Book

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Danish Ismail/ReutersPeople throng Nishat Garden as the sun sets over Kashmir's Dal Lake in Srinagar May 3, 2015.</div></div></div>Here's some good economic news: India is doing everything right and setting itself up to be the next economic powerhouse.Here's some better news: it could happen in countries around the world.Or at least that's the way it appears to Jeff Kleintop, chief investment strategist at Charles Schwab. In his opinion, India is the bright spot of the economic world and it's only looking better."India is booming and all of the growth that the country is producing is from services," Kleintop told Business Insider. "It is really the bright spot, the positive in the global economy."The reason is simple, according to Kleintop, the country has focused most of its growth on the services sector. Based on World Bank estimates of value added to GDP, 52.1% of value added to Indian GDP comes<a href="http://data.worldbank.org/indicator/NV.SRV.TETC.ZS"> from the services sector </a>while industry (including manufacturing, mining, etc.) <a href="http://data.worldbank.org/indicator/NV.IND.TOTL.ZS">only makes up 30.1%</a>. In contrast, China's split is 48% Services to 42.7% industry.Additionally, said Kleintop, the country has not been impacted by the recent downturn in commodities and manufacturing, as other emerging nations have, due to its closed nature. Again <a href="http://data.worldbank.org/indicator/NE.EXP.GNFS.ZS/countries">according to the World Bank</a>, India derives 23.6% of its GDP from exports, similar to China's 22.6% and much lower than other emerging economies.All of these factors are in addition to booming population growth and relatively <a href="http://www.businessinsider.com/india-central-bank-next-hike-2016-4">pro-business reforms</a> that have set the country up for success, according to Kleintop.Even better, India's success is replicable."There's an India in the US, there's an India in Europe, we have them across the world we just have harness them," he told us.Kleintop said investing in and emphasizing the growth of these industries are an important way to help the economies of the rest of the nations thrive.In fact, based on value added to GDP by the services sector, both the US and many European countries create more of their wealth from the services sector than India. According to Kleintop, this is also a matter of perception."Somewhere around 80% of the data we get every month is from manufacturing and industrials," he said. "We spend so much time focused on that when most of the strength and economy in the US comes is services."By both focusing efforts on continuing to grow services, and possibly by paying it more attention, Kleintop believes that the US can continue the good story of India's success, <a href="http://www.businessinsider.com/global-gdp-growth-slow-and-steady-2016-3">albeit more slowly</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/photos-show-china-overcrowded-2016-4">These striking images show just how overcrowded China's population really is</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="11Yjg0eTqd5rZxjrUtLggDV0VoibCYIv" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

This is the bright spot of the world economy, and every other country should take note

<div><a href="http://www.businessinsider.com/worldviews"></a></div><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>As developed economies around the world face the reality of funding a growing number of retirees,&#xa0;India is just getting to work.The average age of the country's 1.3 billion people is <a href="https://www.cia.gov/library/publications/the-world-factbook/geos/in.html" target="_blank" rel="nofollow">just 28</a>&#xa0;years old. This presents a massive opportunity for economic growth as more and more young people enter the workforce.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Developed Regions comprise Europe, North America, Australia, New Zealand and Japan. Data sourced from United Nations, Department of Economic and Social Affairs, Population Division (2015).&#xa0;A <a href="http://www.ey.com/Publication/vwLUAssets/EY-Government-and-Public-Sector-Reaping-Indias-demographic-dividend/%24FILE/EY-Reaping-Indias-promised-demographic-dividend-industry-in-driving-seat.pdf" target="_blank" rel="nofollow">recent report by EY</a> forecasts that India's working age population will rise to 869 million by 2020, representing 28% of the world's workforce. To put that in perspective, the entire US labor force is <a href="http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&amp;graph_name=LN_cpsbref1" target="_blank" rel="nofollow">just under 160 million</a>.&#xa0;Of course, these demographic shifts have their&#xa0;challenges. Putting all of those people to work will require significant training, job creation,&#xa0;and infrastructure. And India's women, who have historically been underrepresented in the workforce, are now joining the ranks seeking employment.The government is moving in the right direction managing these shifts, and the rewards of&#xa0;getting it right are enormous.<h2>Benefits of a booming workforce</h2>As India's workforce expands, savings could&#xa0;increase, helping provide an important source of funding for investment. A growing pool of labor could also mean lower wage cost pressures for businesses.But, most important for the local economy, a growing working population could&#xa0;drive consumption and growth.These trends are already bearing fruit.&#xa0;Indian household spending rose from <a href="http://data.worldbank.org/indicator/NE.CON.PRVT.CD?locations=IN" target="_blank" rel="nofollow">$426 billion in 2004 to over $1.17 trillion in 2014</a>, according to World Bank data. If this growth continues alongside the booming workforce,&#xa0;domestic consumers could emerge as major drivers of the Indian economy.If you're looking to access the Indian market, consider the&#xa0;<a href="https://www.ishares.com/us/products/239659/ishares-msci-india-etf" target="_blank" rel="nofollow">iShares MSCI India ETF (INDA)</a>, or broaden your search to&#xa0;<a href="https://www.ishares.com/us/strategies/international-etfs#single" target="_blank" rel="nofollow">other countries</a>.EXPLORE: <a href="http://www.businessinsider.com/worldviews">Research other countries in the Worldviews series</a>&#xa0;&#xa0;&#xa0;This post is sponsored by <a href="https://www.ishares.com/us/" target="_blank" rel="nofollow">iShares®&#xa0;by BlackRock®</a><a href="https://www.ishares.com/us/" target="_blank" rel="nofollow"></a>.Visit <a href="https://www.ishares.com/us/" target="_blank" rel="nofollow">www.iShares.com </a>or <a href="https://www.blackrock.com/" target="_blank" rel="nofollow">www.BlackRock.com</a> to view a prospectus, which includes investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing.&#xa0;Investing involves risk, including possible loss of principal.International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/developing markets and in concentrations of single countries.The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").©2016 BlackRock. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock. All other marks are the property of their respective owners.&#xa0;iS-19361</hr>

Here's why India's population is the envy of economies everywhere

India is the world's seventh largest <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> in terms of GDP and the third largest in purchasing power parity (PPP) terms. It is one of the fastest growing major economies in the world, and several global enterprises are flocking in to grab a piece of the Indian pie. 
 However, in recent years, the country has also emerged as a leading center for cutting edge <keyword id="6355118" type="ENTERTAINMENT" weightage="60" keywordseo="technology">technology</keyword> and disruptive <keyword id="94495" type="ENTERTAINMENT" weightage="80" keywordseo="Innovation">innovation</keyword>. India currently has the world's largest youth population, and its booming <keyword id="138263" type="UNKNOWN" weightage="100" keywordseo="startup">startup</keyword> culture is driving the nation’s economic growth. If you are planning to launch a startup, here is a comprehensive guide to the best possible place to launch it. 
 
<a href="https://dezign-static.s3.amazonaws.com/blogs/photos/full/World%20Trade%20Centre,%20Bangalore.png">Image Source</a>

10 Best Indian Cities to launch your Startup

<ul class="summary-list"><li><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> descended to a new low in April with its service industry activity tanking to a level far worse than any observed measure since records began 15 years ago, according to <keyword id="3534353" type="PERSON" weightage="60" keywordseo="ihs-markit">IHS Markit</keyword>'s index released Wednesday.</li><li>IHS Markit's India Purchasing Managers' Index (<keyword id="104215" type="ORGANIZATION" weightage="60" keywordseo="PMI">PMI</keyword>) for the service sector posted a bleak reading of 5.4 in April, significantly down from 49.3 in March.</li><li>A PMI reading of above 50 indicates an expansion in economic activity, while a reading below 50 implies a contraction. Even during economic downturns readings tend not to dip below 45.</li><li>A measure tracking India's foreign sales fell to an unprecedented 0.0 reading, as demand across export <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> ground to a halt.</li><li>On Monday, <keyword id="136081" type="PERSON" weightage="60" keywordseo="Liquor-stores">liquor stores</keyword> were allowed to temporarily reopen across India and a key state raked in $25 million in alcohol sales on a single day.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>India's service industry <a href="https://www.markiteconomics.com/Public/Home/PressRelease/740dede2593844e5a45adb71fa250c84">recorded</a> an "extreme decline" in April after nationwide lockdown restrictions were implemented to curb the spread of the coronavirus, IHS Markit said. The IHS Markit India <keyword id="16056" type="PERSON" weightage="60" keywordseo="Services">Services</keyword> Business Activity Index posted a grim reading of 5.4 last month — a terrifying decline from 49.3 in March. The sharp plunge in service business activity indicates a severe contraction in the Indian economy since records began 15 years ago. IHS Markit attributed the scale of collapse to movement restrictions and shutdowns to business, which resulted in an unprecedented fall in output and demand. "It is clear that the economic damage of the COVID-19 pandemic has so far been deep and far-reaching in India, but the hope is that the economy has endured the worst and things will begin to improve as lockdown measures are gradually lifted," said Joe Hayes, an economist at IHS Markit, in a statement.About 97% of the respondents to the Purchasing Managers Index (PMI) survey pinned the crippling impact on their businesses to a reduction in output caused by the Covid-19 pandemic.<div type="image" title="India's service sector activity plummets at historic rate during April" height="714" width="1146" msid="75575683" hostid="261"></div>The PMI is an economic indicator to gauge the economic direction of services trends in the economy. A reading of 50 implies that the economy is going through a neutral or stabilized level of growth in the service industry, above 50 exhibits expansion, and below 50 indicates stagnation.More often than not, during periods of economic expansion, PMIs hover in the mid-50s range, while during downturns readings as low as 45 can be expected.As things stand, India's latest service level activity is catastrophic.Read More: <a href="https://www.businessinsider.com/stock-picks-acquisition-targets-for-private-equity-coronavirus-crisis-btig-2020-5">These 22 well-known companies are vulnerable to acquisitions by private-equity buyers due to the coronavirus, BTIG says</a>An index measuring foreign demand for services fell to an unparalleled level of 0.0, as demand across key export markets ground to a halt.The international sales index and the services PMI drastically pulled down the weight of the composite index.The composite output PMI — which considers all sectors of the economy — sank to a new record low of 7.2 from 50.6 in March, underlining a blow to the paralysed private sector. The previous such low was recorded in February 2009.<h2>Booming sales for liquor stores</h2>Starting Monday, Prime Minister Narendra Modi's government reportedly relaxed restrictions on the production, sale and transport of goods in districts deemed relatively safer from the virus.Liquor shops were allowed to open temporarily on Tuesday after the government sanctioned alcohol sales during the lockdown, in order to increase the flow of revenue. States also imposed a 70% tax on the sale of alcohol.According to multiple reports, large crowds gathered near liquor stores without following social distancing norms as people feared shops may shut soon. This week, liquor stores in safe zones registered booming sales across the country, with one state raking in about $25 million in a single day, as per <a href="https://timesofindia.indiatimes.com/india/moolah-flows-into-state-coffers-as-liquor-sales-soar-on-day-2/articleshow/75568666.cms">the Times of India</a>.So far, India has recorded 49,436 confirmed <a href="https://coronavirus.jhu.edu/map.html">coronavirus cases</a> and 1,695 fatalities.Read More: <a href="https://www.businessinsider.com/stock-picks-acquisition-targets-for-private-equity-coronavirus-crisis-btig-2020-5">These 22 well-known companies are vulnerable to acquisitions by private-equity buyers due to the coronavirus, BTIG says</a>Read the original article on <a href="https://www.businessinsider.com/india-service-activity-falls-to-record-low-april-ihs-markit-2020-5">Business Insider</a>

India's service activity crashes to historic lows as the country extends lockdown to fight coronavirus

<ul class="summary-list"><li>India's stock market overtook Hong Kong's to become the fourth largest in the world.</li><li>The total value of shares in India equaled $4.33 trillion at Monday's close, over Hong Kong's $4.29 trillion.</li></ul>India's stock market is booming, and its value has ballooned so much that it overtook Hong Kong's on Monday, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-01-23/india-overtakes-hong-kong-as-world-s-fourth-largest-stock-market?srnd=markets-vp">reported</a>.The total value of shares on Indian exchanges hit $4.33 trillion at Monday's close, compared to Hong Kong's $4.29 trillion, according to data compiled by Bloomberg, making it the fourth largest stock market in the world. India <a href="https://www.businessinsider.com/india-stock-market-catching-up-hong-kong-2023-12">passed the $4 trillion mark</a> on December 5, with half of that value built up in just the past four years.The stock market has been galvanized by a growing number of retail investors and strong corporate earnings.Meanwhile, the country's population overtook China's last year, and it has been <a href="https://www.businessinsider.com/india-business-market-entry-barriers-tariffs-supply-chain-china-2023-6">gearing itself up</a> for boom-time economic growth and a flood of foreign investment.Overseas funds poured over $21 billion into Indian stocks last year, and the S&amp;P BSE Sensex, a benchmark index tracking Indian stocks, notched an eighth consecutive year of gains.What has also helped close the gap between the two stock markets is a slumping Chinese economy and property crash, which have prompted foreign investors to shift money elsewhere.Together, mainland Chinese and Hong Kong equities have <a href="https://markets.businessinsider.com/news/stocks/china-markets-mainland-hong-kong-stocks-losses-economy-woes-2024-1">lost a total of $6.3 trillion in market value since 2021</a>. The <a href="https://www.cnbc.com/quotes/.HSI">Hang Seng Index</a>, a benchmark index for Hong Kong stocks, has tanked around 30% in the past year, though it rose slightly on Tuesday on reports that Chinese policymakers are considering a $278 billion stimulus package.

India's stock market overtakes Hong Kong's as the 4th largest in the world

<ul><li>The government’s Credit Guarantee Scheme for MSMEs is “a growing contingent liability” that needs an urgent evaluation, he said. </li><li>Both MUDRA loans as well as the Kisan Credit Card need to be examined closely for potential risk </li><li>Over-optimism of 2006-2008 marked by risky bets combined with slow government decision making led to bad loan problem </li></ul>In his reply to the <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>n <keyword id="6354721" type="ORGANIZATION" weightage="20" keywordseo="parliament">Parliament</keyword>, Former Reserve Bank of India governor <keyword id="6358908" type="PERSON" weightage="20" keywordseo="raghuram-rajan">Raghuram Rajan</keyword> has warned India should take a <a href="https://www.thehindu.com/business/Economy/raghuram-rajan-blames-over-optimistic-bankers-growth-slowdown-for-bad-loans/article24925803.ece">closer look</a> at the risks of small loans, saying the next <keyword id="142154" type="PERSON" weightage="20" keywordseo="bad-loans">bad loans</keyword> crisis could potentially come from setting unrealistic credit targets or granting loan waivers. “Both MUDRA loans as well as the Kisan Credit Card, while popular, have to be examined more closely for potential credit risk,” Rajan said in his 17-page official response to India’s Parliamentary committee which had sought his views on the country’s rising bad loans menace. He highlighted the government’s Credit Guarantee Scheme for MSMEs is “a growing contingent liability” that needs an urgent evaluation. This scheme, also called Udaan, was launched in 2000 has <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/raghuram-rajan-has-a-word-of-caution-on-msme-lending/articleshow/65765097.cms">posted </a>more than 2.5 million in cumulative guarantee approvals with loan amounts of over ₹1.2 trillion ($17 billion) in FY 2016-17. Under the Mudra scheme, a total of ₹6.4 trillion ($85 billion) of loans is <a href="https://www.thehindu.com/business/Economy/raghuram-rajan-blames-over-optimistic-bankers-growth-slowdown-for-bad-loans/article24925803.ece">estimated</a> to have been disbursed to date. Over-optimism of boom years Rajan <a href="https://indianexpress.com/article/explained/raghuram-rajan-bad-loans-npa-indian-banking-system-economy-5351347/">noted </a>that in the boom years of 2006-2008, a number of banks extended loans based on over-optimistic estimates that eventually soured due to a slowdown in the government’s decision making and slowing economic growth. “Clearly, bankers were overconfident and probably did too little due-diligence for some of these loans. Many did no independent analysis, and placed excessive reliance on <keyword id="13222" type="DOMAIN" weightage="20" keywordseo="SBI">SBI</keyword> Caps and IDBI to do the necessary due-diligence. Such outsourcing of analysis multiplied the possibilities for undue influence,” he reportedly said. In a moment of “irrational exuberance” similar to mistakes made in many economies in the phase of high economic growth, Indian banks took risky bets of high leverage with lower levels of promoters equity with little due diligence. Hit by economic slowdown and project cost overruns, infrastructure companies were unable to service their debt obligations. Governance issues were also to blame. “A variety of governance problems such as the suspect allocation of coal mines coupled with the fear of investigation slowed down government decision making in Delhi, both in the UPA and the subsequent NDA governments,” he said. RBI did not create NPAs Taking on recent criticism from the Indian government that Rajan <a href="https://timesofindia.indiatimes.com/business/india-business/economy-slowed-down-due-to-raghuram-rajans-policies-not-demonetisation-niti-aayog-vc/articleshow/65655402.cms">created </a>the bad loans crisis resulting in an economic slowdown, he reminded the committee that bankers, promoters, or their backers in government sometimes turn around and accuse regulators of creating the bad loan problem when the regulator only acts as a “referee” and isn’t a player in the lending process. “The truth is bankers, promoters, and circumstances create the bad loan problem. The regulator cannot substitute for the banker’s commercial decisions or micromanage them or even investigate them when they are being made,” he said.

Raghuram Rajan reminds India what caused bad loans, warns Mudra loans could be the next wave Of NPAs

<ul><li>Infosys Chairman <keyword id="44604" type="PERSON" weightage="20" keywordseo="Nandan-Nilekani">Nandan Nilekani</keyword> believes Indians will be data rich before they will be economically rich. </li><li>This will lead to new business models like <keyword id="8177326" type="UNKNOWN" weightage="20" keywordseo="flow-based-lending">flow based lending</keyword>. </li><li>Flow-based lending will allow small businesses to access small and short-term working capital loans. </li></ul>More and more Indians are coming online as Internet penetration and connectivity improves in the country. "Indians will be data rich before they will be economically rich," stated Nandan Nilekani, the chairman of Infosys at the <keyword id="33239" type="PERSON" weightage="20" keywordseo="India-Economic-summit">India Economic Summit</keyword> in New Delhi. He explained that data being leveraged in India is very different to how it is leveraged in the West. People were online 10 -15 years earlier and their data flowed without any restrictions. In India, the online ad market is still only at $2 billion and people are very aware of how and where their data is going. Even so, as data increases, it will bring about new business models — like flow-based lending. Chairman of Wipro, <keyword id="197349" type="PERSON" weightage="20" keywordseo="Rishad-Premji">Rishad Premji</keyword>, feels that big data can be harnessed and that India has only "scratched the surface," of new technologies. Credit will follow the data "Historically, lending in India has been to big guys in large amounts for a long time for assets. A lot of challenges we have today are because of that," stated Nilekani. The boom in data can be a boon for small businesses. Flow-based lending means that small businesses will be able to raise small, short-term working capital loans. In cash flow lending, companies are allowed to borrow money based on the projected future cash flows. "So, millions of businesses that don’t have access to credit today will get access," he said. Around seven to eight businesses have in-principle approval from the RBI for account aggregation and 30-40 startups working on flow based lending. Even big banks are showing interest in this model. "Credit will be first example of data being empowered for users," said Nilekani.

Indians will be data rich before they’re economically rich, said Nandan Nilekani

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> bucked the global trend with strategic merger and acquisition (M&amp;A) deal volume and value reaching all-time highs in 2022, a report showed on Tuesday. Record levels of cash and availability of assets helped deliver a boom with deal volume up 36 per cent and deal value up 139 per cent in 2022, according to <keyword id="205571" type="General" weightage="80" keywordseo="bain" source="Orion">Bain</keyword> &amp; Company's annual report. "We have seen four straight years of growing deal volume and value, with 2022 setting another record year. This is in stark contrast to the mood and momentum in the rest of the world," said <keyword id="6197" type="General" weightage="80" keywordseo="karan-singh" source="Orion">Karan Singh</keyword>, managing partner, Bain and <keyword id="1969426" type="General" weightage="50" keywordseo="company-india" source="Orion">Company India</keyword>. The strong M&amp;A activity was seen across sectors, including financial services, utilities, manufacturing, and healthcare. Environmental, social, and governance (ESG) is a new theme and India is emerging as a hotspot for renewable energy, Singh added. Consumer tech has seen the highest start-up consolidation, followed by edtech and fintech. "M&amp;A activity is strong across the board, from conglomerates acquiring new value creation engines, to insurgents buying into new segments and acquiring new capabilities," said <keyword id="12780795" type="General" weightage="80" keywordseo="vikram-chandrashekhar" source="Orion">Vikram Chandrashekhar</keyword>, partner, Bain &amp; Company. Additionally, India is becoming a prime alternative for global companies that are eager to diversify their supply chains. "Close to 65 per cent of executives we surveyed have said they expect M&amp;A activity to stay strong in 2023, this is significantly higher than the global average of 37 per cent," said Chandrashekhar. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/indian-economy-projected-to-grow-between-6-6-8-in-fy24-says-economic-survey-2023/articleshow/97489284.cms">Indian economy projected to grow between 6-6.8% in FY24; private capex necessary for job creation: Economic Survey 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/capital-expenditure-target-of-7-5-lakh-crore-for-fy23-to-be-met-economic-survey/articleshow/97489810.cms">Capital expenditure target of ₹7.5 lakh crore for FY23 to be met: Economic Survey</a>

India emerged as global M&A hotspot in 2022: Bain & Company report

India is the second most favorite destination globally when companies look for new employees. However, the employment rate will slow down in the next three months, staffing firm Manpower Group said today. 
 
The hiring in India for the September quarter of 2015 is expected to be mainly startup driven, or demand in rural and semi-rural sectors. 
According to the Manpower Employment Outlook Survey released today, 37% of the total 5,007 employers in India want to hire, and job seekers are expected to benefit from this. 
 
Research indicates payrolls would increase in July-September. However, the overall hiring momentum will slow down. 
"With government initiatives, a concrete policy framework, economic boom and entrepreneurial opportunities, it's a good time for job seekers," ManpowerGroup India Group Managing Director AG Rao said. 
 
Rao added that "growth in hiring is expected to continue in 2015 as employers across sectors plan expansion in rural and semi-rural locations. Tier-2 cities, too, have witnessed start-up culture". 
 
Taiwan has retained its top slot globally. 
 
In India, hirings remained positive in all the seven sectors. The main sectors were mining and construction, finance, insurance, real estate, IT and retail. 
 
(Image credit: Indiatimes)

India’s hiring rate to go slack in the
September quarter:

Energy, metals and agriculture prices have all tumbled from their March peak on inflationary recession fears amid a slew of economic warning signs, but a commodity bust is far from inevitable, S&amp;P Global Commodity Insights said in a report. The commodity market boom is over, the report said. Since early 2020, more and more analysts have been championing the idea of a new commodity supercycle, with an economic recovery turbo-charged by low interest and pandemic-led fiscal stimulus measures, and as investment into decarbonization projects accelerated to meet net-zero targets. Global manufacturing is creaking, with the July <keyword id="104215" type="General" weightage="80" keywordseo="pmi" source="Orion">PMI</keyword> data, a leading barometer of economic health, at its lowest in two years. The <keyword id="6356435" type="General" weightage="80" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword> has raised interest rates by 75 basis points for the second month in a row in a bid to thwart runaway inflation at over 9 per cent in June. And it's a similar pattern of inflation risks and monetary tightening seen across Europe. S&amp;P <keyword id="9589724" type="General" weightage="80" keywordseo="global-platts" source="Orion">Global Platts</keyword> Analytics sees global GDP growth below 3 per cent in 2022 and "the balance of risks is clearly on the downside with recession probabilities rising" amid "very concerning" inflation trends, after 2021's booming GDP growth of 6 per cent, <keyword id="12991687" type="General" weightage="80" keywordseo="paul-hickin" source="Orion">Paul Hickin</keyword>, Associate editorial director, S&amp;P Global Commodity Insights said. Oil and agriculture prices have also come off March highs, with the key <keyword id="4942453" type="General" weightage="80" keywordseo="dated-brent" source="Orion">Dated Brent</keyword> crude benchmark and the <keyword id="6358826" type="General" weightage="20" keywordseo="russia" source="Orion">Russia</keyword>n wheat price falling by close to 20 per cent. Energy and agriculture have not fallen at the same rate as metals given tighter supply balances, with Russia a crucial energy and crops supplier, amid uncertainties that these crucial commodities will continue to be exported at the same rate. The key debate is how high prices are leading to demand destruction amid fears of an inflationary recession and how much commodities are trading off their own fundamentals and still tight supply and demand balances. If oil and wheat stay high despite the economic weakness, even more damage could be inflicted on the global economy and, ultimately, commodity demand, pointing to the urgency of OPEC+ to bring on extra barrels and the US to keep strategic petroleum reserves flowing, the report said. Dated Brent remains in triple digits after peaking at close to $140/b in March and well above the $80/b at the start of 2022, while Russian wheat 12.5 per cent FOB Black Sea is also still comfortably above levels seen at the start of the year. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-monkeypox-tomato-fever-zika-virus-india-has-its-hands-full-with-these-outbreaks-and-more/slidelist/93296406.cms">Covid-19, Monkeypox, tomato fever – India has its hands full with these outbreaks and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/psu-banks-near-all-time-high-as-analysts-expect-a-rerun-of-2004-05-corporate-capex-cycle/articleshow/93296508.cms">PSU banks near all time high as analysts expect a rerun of 2004-05 corporate capex cycle</a>

You Searched For "India s economic boom" and got 11 results

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