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<ul><li>Indian economic growth slowed down in October to December is slower amid risks from rising crude oil prices and other commodities post Russia-Ukraine crisis.</li><li>The Indian economic growth has been slowing down since the last two quarters.</li><li>However, this is the fifth consecutive quarter of positive growth. </li></ul>Indian economy grew by 5.4 per cent in the October-December quarter of 2021-22, official data released on Monday showed. The gross domestic product (GDP) had expanded by 0.7 per cent in the corresponding period of 2020-21, according to the data released by the National Statistical Office (NSO). The Indian economic growth has been slowing down since the last two quarters. However, this is the fifth consecutive quarter of positive growth. In its second advance estimates of national accounts, the NSO has projected 8.9 per cent growth in 2021-22. In its first advance estimates released in January, it had projected 9.2 per cent growth for 2021-22 as against a contraction of 6.6 per cent in 2020-21. The economy had grown by 20.3 per cent in the first quarter of this fiscal due to lower base effect. In the second quarter, the GDP grew by 8.5 per cent. China's economy grew by 4 per cent in October-December 2021. SEE ALSO:

Indian economy's growth slows down to 5.4% between October to December

The gross domestic product (GDP) figures for the three-month period of October to December 2018, came in today (Feb 28, 2019). The Indian GDP grew by 6.6%, the slowest in five quarters. In fact, even a growth of 6.6% seems to be on the optimistic side, given that this is not in line with the underlying economic fundamentals, which can be measured through high-frequency economic indicators like car sales, two-wheeler sales, tourist arrivals, railway freight movement, etc. Let’s try and get some sense of what the economic indicators looked like in the three month period between October to December 2018. In this piece, the yearly growth of 15 high frequency economic indicators has been looked at. These indicators include (and as can be seen from the accompanying table, which is in two parts) indicators like car sales, two-wheeler sales, commercial vehicle sales, non-oil exports, non-oil non-gold non-silver imports, revenue earning rail freight, among others. The performance of 11 out of the 15 economic indicators was much better during the period October to December 2017 than it was in October to December 2018. This basically means that the yearly growth of most economic indicators was better during the same period. In simple English, what this means is that the <keyword id="6356076" type="DEFINITION" weightage="20" keywordseo="indian-economy">Indian economy</keyword> has slowed down during the last quarter. Will this reflect in the government GDP numbers? That is something we will come to know later this week. These indicators are real time economic indicators and not a theoretical construct like the GDP number. Also, in a scenario where India grew by 8.2% during 2016-2017, the year of demonetisation, it makes more sense to trust real time economic indicators more than the GDP number declared by the government. Let’s take a closer look at some of these indicators. Take car sales, the most cited indicator among these indicators. During the period October to December 2018, car sales fell by 0.79% in comparison to October to December 2017. In fact, car sales had fallen by 2.42% during July to September 2018. 
 
 
 
 
 
 
 
 
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 Why are car sales important? That’s because they have been an important indicator of how urban India is feeling about its economic prospects. At the end of the day, no one is forcing an individual to buy a car. She buys a car only when she feels that she is in a position to service the EMI on the car loan taken to buy the car or make a down-payment. The fact that car sales have been falling tells us that urban India isn’t really feeling strong about its future economic prospects. Car sales also have very strong forward and backward linkages. When cars sell well, there is greater demand for steel, rubber, paint, glass, batteries etc. These are the backward linkages. A whole host of sectors do well, when cars sell well. The vice versa is also true. As far as forward linkages of car sales are concerned, a growth in car sales leads to an increase demand for loans, servicing centres as well as energy consumption. As we can see from the accompanying table, consumption of petroleum products went up by just 2.21% during the period October to December 2018, in comparison to a year earlier. This is again a clear impact of slowdown in car sales. 
 
 
 
 
 
 
 
 
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 Other than cars, a slowdown in scooter sales between July and December 2018, also tells us that urban India is not feeling too comfortable about its economic prospects. While scooter sales growth remained slow, the motorcycle sales growth seems to be on a recovery path. Between October and December 2018, it grew by 11.11%. 
 
 
 
 
 
 
 
 
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 This along with the fact that tractor sales during the same period grew by 22.24%, tells us that the rich part of rural India is feeling economically confident. The same cannot be said the agriculture sector as a whole, with fertilizer production falling 9.1% during the period. 
 
 
 
 
 
 
 
 
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 As far as consumer demand is concerned, non-oil non-gold non-silver imports, which are a very good indicator of consumer demand, grew by just 0.35% between October and December 2018. Tourist arrivals also grew by just 1.73%, in comparison to 14.81% a year earlier, which will act as a dampener on consumer demand. 
 
 
 
 
 
 
 
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 The production of steel grew by 4.64% during the period. A slowdown in car sales as well as a real estate sector which hasn’t gone anywhere in many years, went against the sector. 
 
 
 
 
 
 
 
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 What helped is the healthy pace of road construction. Between April and November 2018, 5,579 kilometres of highways were constructed, against 4,942 kilometres, during the same period in 2017. Road building also gave a fillip to cement production, which jumped by 13.33%. 
 
 
 
 
 
 
 
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 Exports remained weak during the period. Non-oil exports, which tend to benefit a large number of companies in comparison to oil exports, where the benefits are concentrated, grew by just 1.19%. Revenue earning rail freight saw a slight improvement in growth at 5.92%. Commercial vehicle sales grew by 6.7%, the slowest in six quarters. A fast growth in commercial sales indicates a robust activity on the infrastructure and industrial front. This is seen as a lead economic indicator of industrial as well as infrastructure activity. This is also borne out by data from Centre for Monitoring Indian Economy. During October to December 2018, the new projects fell by 24.14%. Completed projects fell by 8.35% and the stalled projects went up by 246.89%. All this comes together in the form of a major slowdown in central government revenue receipts, which grew by just 0.48% during the period, with the government also feeling the heat of the economic slowdown. All these economic indicators come together to tell us that the Indian economy has slowed down during the period October to December 2018. Whether this is captured in the GDP data which will be released on February 28, remains to be seen. In this scenario, even an economic growth of 6.6% doesn’t seem believable. In the recent past, the Indian GDP data has become more or less a joke. Let’s see if that continues or things do improve on that front. Vivek Kaul is a Business Insider India contributor. Kaul is an economist and the author of the ‘Easy Money’ trilogy. See also: <a href="https://www.businessinsider.in/india-corporate-earnings-will-slow-down-affecting-stock-prices/articleshow/68060649.cms">Indian companies have two tough years ahead — are the markets prepared?</a> <a href="https://www.businessinsider.in/indias-wholesale-inflation-cools-to-2-7-in-january/articleshow/67992193.cms">India's wholesale inflation cools to 2.7% in January</a> <a href="https://www.businessinsider.in/indias-government-wants-you-to-believe-that-demonetisation-didnt-slow-down-the-economy/articleshow/67785050.cms">India’s government wants you to believe that demonetisation didn’t slow down the economy</a>

Why even an economic growth of 6.6% is not believable

<ul><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 35 points lower at 58,817 while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> managed to end 9 points higher at 17,534.</li><li>Metals company stocks were the biggest gainers on Dalal Street with Hindalco Industries being the top gainer followed by Coal India Tata Steel.</li><li>Hindalco reported an all-time high quarterly net profit for June quarter at ₹4,119 crore.</li></ul>Indian markets traded flat today on Wednesday following cues from its Asian and US peers ahead of the <keyword id="108767" type="General" weightage="20" keywordseo="us-inflation" source="Orion">US inflation</keyword> data — that will determine the future course of action by the US Fed. Sensex closed 35 points lower at 58,817 while Nifty50 managed to end 9 points higher at 17,534. Metals company stocks were the biggest gainers on Dalal Street. Hindalco Industries was the top gainer as it went up 4.4% gains followed by Coal India that went up and Tata Steel by 1.8%. Hindalco reported an all-time high quarterly net profit for June quarter at ₹4,119 crore with revenue rising to ₹58,018 crore as against ₹41,358 crore last year. Meanwhile, IT and real estate stocks were the biggest losers. Analysts believe the market mood has changed amid massive volatility due to macro economic conditions. July turned out to be the best month as of now, in this current financial year, with the Nifty and Sensex surging by over 8%. FIIs reversed their trend of huge sell off and are now buying in some pockets. So far, in August, FIIs bought assets worth over ₹ 17,000 crore including equity, debt and hybrid. “Foreign investors are returning and are here to stay this time because of India's strong economic growth. The IMF revised India's GDP growth, but India will still be the fastest-growing large economy in the world. And if the economy grows, India Inc's earnings would also increase. And with a rise in India Inc earnings, FIIs would look to chase the growth story,” said Sunil Damania, chief investment officer at MarketsMojo. “Given favorable conditions, FIIs will have every reason to return to the Indian equity market as they look to invest in countries that can help them generate alpha on the portfolio,” said Damania. Besides, the southwest monsoon has progressed well with 8% above normal range until July 31, which will further help boost the rural economy and reduce food inflation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/consumers-are-taking-more-shorter-trips-through-the-year-says-oyo/articleshow/93471613.cms">Consumers are taking more shorter trips through the year says OYO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/healthy-household-balance-sheets-will-push-auto-consumer-goods-sales-morgan-stanley/articleshow/93473239.cms">Healthy household balance sheets will push auto, consumer goods sales: Morgan Stanley</a>

Indian markets close flat as they await cues from US inflation data

In the concluding meeting of the <keyword id="6375120" type="General" weightage="50" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> (<keyword id="6369693" type="General" weightage="80" keywordseo="mpc" source="Orion">MPC</keyword>) on Wednesday, five out of its six members decided to opt for raising the policy repo rate by 35 basis points to 6.25 per cent, with immediate effect, <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> announced. Repo rate is the rate at which the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> lends to the banks. Consequently, RBI Governor said the standing deposit facility (SDF) rate stands adjusted to 6 per cent, and the marginal standing facility (MSF) rate and the bank rate to 6.50 per cent. As regards the stance of monetary policy, the Governor said the MPC took a holistic view of the policy rate and liquidity conditions relative to inflation. Adjusted for inflation, the policy rate still remains accommodative. The MPC also decided by a majority of four out of six members to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth. The Governor elaborated on the MPC's rationale behind these decisions on the policy rate and the stance. Growth prospects across the world are dampening, he said, adding that financial markets remain nervous and are characterised by high volatility and price swings. Shaktikanta Das said for the Indian economy, the outlook is supported by good progress of rabi-sowing, sustained urban demand, improving rural demand, a pick-up in manufacturing, rebound in services and robust credit expansion. "Consumer price inflation moderated to 6.8 per cent (y-o-y) in October as expected, but it still remains above the upper tolerance band of the target. Core inflation is exhibiting stickiness." On balance, he said the MPC was of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored, break core inflation persistence and contain second-round effects. These actions will strengthen the medium-term growth prospects of the Indian economy. Accordingly, the MPC decided to increase the rate and to remain focused on the withdrawal of accommodation, while supporting growth. Over the next 12 months, the Governor said inflation is expected to remain higher than the 4 per cent target. "System liquidity remains in surplus with an average daily absorption under the liquidity adjustment facility (LAF) of Rs 1.6 lakh crore in November 2022. Since then, it has gone up to Rs 2.6 lakh crore as on 5th December," he added. He said that the overall monetary and liquidity conditions remained accommodative and hence, the MPC decided to remain focused on the withdrawal of accommodation. According to the latest data released by National Statistical Office (NSO), real gross domestic product (GDP) posted a growth of 6.3 per cent year-on-year (y-o-y) in Q2:2022-23, driven primarily by private consumption and investment. This is in line with our expectations. The governor also said investment activity will get support from government capex, going ahead. A pick-up in the share of fixed assets in total assets of manufacturing companies was visible in the first half of the year (H1). He said according to surveys, consumer confidence has improved further. Manufacturing and infrastructure sector firms are optimistic about the business outlook. Services sector firms also expect activity to expand. In an interconnected world, the Governor said the country cannot remain entirely decoupled from adverse spillovers from the global slowdown and its negative impact on our net exports and overall economic activity. "The biggest risks to the outlook continue to be the headwinds emanating from protracted geopolitical tensions, global slowdown and tightening of global financial conditions," he added. In his summary, he said GDP growth in India remains resilient and inflation is expected to moderate; but the battle against inflation is not over and added pressure points from high and sticky core inflation and exposure of food inflation to international factors and weather-related events do remain. While being watchful of the impact of our earlier monetary policy actions, the Governor said the central bank will keep "Arjuna's eye" on the evolving inflation dynamics and be ready to act as may be necessary. "Our actions will be nimble and in the best interest of the economy. The aspect of growth will obviously be kept in mind," he said. An accommodative stance means the central bank is prepared to expand the money supply to boost economic growth. The RBI has been on an accommodative stance for the last two years to support the economy during the COVID-19 crisis. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbis-rate-hike-as-expected-but-shaktikanta-das-commentary-still-hawkish-say-analysts/articleshow/96057544.cms">RBI’s lower rate hike as expected, but Das’ commentary still hawkish, say analysts</a> <a href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-close-lower-after-rbi-says-inflation-battle-not-over-realty-it-auto-stocks-drag/articleshow/96058618.cms">Sensex, Nifty50 close lower after RBI says inflation battle not over – realty, IT, auto stocks drag</a> <a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms">RBI hikes repo rate by 35 bps, taking rates to a high of 6.25%</a>

Adjusted for inflation, policy rate still remains accommodative, says RBI Governor

New Delhi, Mar 17 () Moody's Investors Service on Tuesday lowered India's GDP growth forecast for 2020 calendar year to 5.3 per cent, on coronavirus implications on the economy. Moody's had in February projected a 5.4 per cent real GDP growth for India in 2020. This too was a downgrade from 6.6 per cent earlier forecast. The 5.3 per cent real GDP growth forecast for 2020 compares to 5.3 per cent growth estimate for 2019 and 7.4 per cent achieved in 2018. Stating that there was significant economic fallout from more rapid and wider spread of the coronavirus, the rating agency on Tuesday said dampening of domestic consumption demand in affected countries exacerbates disruptions to supply chains and cross-border trade of goods and services. "The longer the disruptions last, the greater the risk of global recession becomes," it said. Moody's forecast a 5.8 per cent growth rate for India in 2021. "A number of governments and central banks have announced countervailing measures, including fiscal stimulus packages, policy rate cuts and regulatory forbearance; however, the effectiveness of policy easing will be blunted by measures to contain the outbreak, and policy space is constrained for some sovereigns," it said. Also, tighter funding conditions and exchange rate depreciation could stress sovereigns with high foreign currency exposure, heavy reliance on external market funding or low foreign currency reserve coverage, it said. Moody's said oil price shock adds to growth and fiscal pressures for exposed sovereigns. "A period of lower oil prices will further weigh on the economic and fiscal fundamentals of oil exporters, while mitigating the trade shock for importers." ANZ DRRDRR

Moody's lowers India's GDP growth forecast to 5.3 pc in 2020

Outlining a grim picture for the global <keyword id="34412" type="ORGANIZATION" weightage="20" keywordseo="economy">economy</keyword> amid the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> crisis, the <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword>'s (RBI) Monetary Policy Report says that the global economy may slump into recession in 2020. The report noted that the the coronavirus pandemic, lockdown and the expected contraction in global output will weigh heavily on the growth outlook. The actual outturn would depend upon the speed with which the outbreak is contained and economic activity returns to normalcy, said the Monetary Policy Report for April 2020. "The COVID-19 pandemic has drastically altered this outlook. The global economy is expected to slump into recession in 2020, as post-COVID projections indicate," it said. The sharp reduction in international crude oil prices, if sustained, could improve India's terms of trade, but the gain from this channel is not expected to offset the drag from the shutdown and loss of external <keyword id="6358993" type="UNKNOWN" weightage="20" keywordseo="demand">demand</keyword>, it added. The central bank's report noted that significant monetary and liquidity <keyword id="6427571" type="UNKNOWN" weightage="20" keywordseo="Measures">measures</keyword> taken by the Reserve Bank and fiscal measures by the government would mitigate the adverse impact on domestic demand and help spur economic activity once normalcy is restored. "Risks around the <keyword id="22195" type="COMPANY" weightage="20" keywordseo="Inflation">inflation</keyword> projections appear balanced at this juncture and the tentative outlook is benign relative to recent history. But COVID-19 hangs over the future, like a spectre," it said. Overall, apart from the continuing resilience of agriculture and allied activities, other sectors of the economy will be adversely impacted by the pandemic, depending upon its intensity, spread and duration, it said. Relatively modest upsides are expected to emanate from monetary, fiscal and other policy measures and the early containment of COVID-19, if that occurs, it said, adding that such uncertainties make the forecasting of inflation and growth highly challenging. It further said that due to the the highly fluid circumstances in which incoming data produce shifts in the outlook for growth on a daily basis, forecasts for real GDP growth in India are not provided in the Monetary Policy Report, awaiting a clear fix on the intensity, spread and duration of COVID-19. It noted that lower global output and demand can impact the Indian economy through a variety of channels. First, it can affect exports adversely, leading to lower domestic demand, growth and inflation. Second, international crude oil and other commodity prices have already softened sharply amidst high volatility and India, being a net importer, can benefit from the lower commodity prices. "Finally, heightened global financial market volatility can feed into domestic financial markets and impact both growth and inflation,a it said. --IANS rrb/sn/rs

RBI's Monetary Policy Report forecasts global recession amid the coronavirus crisis

New Delhi, Jan 31 () India's economic growth is expected to "strongly rebound" to 6-6.5 per cent in 2020-21 from 5 per cent estimated in the current fiscal, the Economic Survey said on Friday, adding that the government with a strong mandate has the capacity to expedite reforms.
 The Economic Survey 2019-20 tabled in Parliament said there are tentative signs of bottoming out of slowdown in manufacturing activity and global trade, which will have a positive impact on growth in the next fiscal.
 The government's thrust on affordable housing, Make in India, reduction in corporate tax rate, and improvement in ease of doing business, besides others factors, will help in boosting economic growth, it said.
 However, it has also cautioned that continued global trade problems, escalation in US-Iran geopolitical tensions, and weak economic recovery in advanced economies are the downside risk which have the potential to drag down the growth.
 "On a net assessment, it appears that the upside risks should prevail, particularly when the government, with a strong mandate, has the capacity to deliver expeditiously on reforms.
 "GDP growth of India should strongly rebound in 2020-21 and more so on a low statistical base of 5 per cent growth in 2019-20," said the survey tabled by Finance Minister Nirmala Sitharaman.
 On a net assessment of both the downside/upside risks, it said "India's GDP growth is expected to grow in the range of 6 to 6.5 per cent in 2020-21."
 On 2019-20 GDP, it said the estimate of 5 per cent growth suggests an uptick in expansion in the second half of 2019-20.
 The survey also stresses that deceleration in GDP growth can be understood within the framework of a slowing cycle of growth. The financial sector has acted as a drag on the real sector.
 The survey said that the uptick in second half of 2019-20 would be mainly due to 10 positive factors like picking up of Nifty India Consumption Index for the first time this year, an upbeat secondary market, higher FDI flows, build-up of demand pressure, positive outlook for rural consumption, rebound of industrial activity, steady improvement in manufacturing, growth in merchandise exports, higher build-up of foreign exchange reserves and positive growth rate of GST revenue collection.
 The document also emphasised that merger of public sector banks may increase the financial strength of the merged entities, lower the risk aversion and result in lowering of lending rates.
 Further, as the implementation of GST further settles down, the increased unification of the domestic market may reduce business costs and facilitate fresh investment.
 Reforms in land and labour market may further reduce business costs, said the survey, presented a day before Sitharaman's Union Budget 2020-21. NKD CS ABM

GDP growth expected to strongly rebound to 6-6.5 pc in FY'21: Eco Survey

<ul><li>One of India’s oldest internet companies <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword>’s share price has almost doubled in the last one year, with its market cap close to $10 billion.</li><li>Info Edge’s presence in the stock market as one of the only purely digital players has made it a ‘stock of the future’.</li><li>The company’s bull run is also facilitated by the fact that two of its star investments, Zomato and PolicyBazaar, are headed for an IPO in 2021.</li></ul>If you want to have a stake in the booming digital businesses of India, buying shares in Flipkart or BYJU’S – the world’s most-valued edtech startup⁠— is not an option. But, there’s one company where you can buy shares⁠— Info Edge, which has become a listed proxy for the spiking valuations in tech startups. Info Edge, one of India’s oldest internet businesses, has multiple startup investments including two unicorns ⁠— food delivery app Zomato and insurance aggregator Policybazaar ⁠— both of which are headed for a debut in the share market. A unicorn is a private firm with more than a billion-dollar valuation. This has resulted in Info Edge’s share price almost doubling in the last one year, and its market cap is close to $10 billion. Zomato will be ready for an IPO in three months, the chief financial officer <a href="https://www.zeebiz.com/companies/news-we-are-working-on-zomato-ipo-info-edge-cfo-and-ed-chintan-thakkar-said-in-chat-with-anil-singhvi-wants-boost-for-startups-in-budget-2021-146270">revealed in a television interview</a>. But that’s not the only reason for the rally in Info Edge shares. <div type="image" title="INFO EDGE SHARE FEB 21" msid="80925368" hostid="261"></div> Info Edge’s core business includes four internet firms that are spread across lucrative industries – recruitment portal Naukri.com, real estate aggregator 99acres.com, matrimony platform Jeevansaathi.com and edtech vertical Shiksha.com. The company’s vision and play in India’s internet economy has also been recognized by the Indian government. Info Edge’s founder <keyword id="295255" type="PERSON" weightage="20" keywordseo="Sanjeev-Bikhchandani">Sanjeev Bikhchandani</keyword>, who leads startup investments for the company, has also been awarded Padma Shri, the country’s fourth highest civilian honour in January 2020. <cmsannotation type="cmsannotation" annotationid="Markets are forward-looking and Info Edge is being seen as the business for the future" comment="subhead" text="Markets are forward-looking and Info Edge is being seen as the business for the future">Markets are forward-looking and Info Edge is being seen as the business for the future</cmsannotation> The much-awaited IPO from Zomato and Policybazaar may be the cherry on top. There is a lot else inside Info Edge, which makes its shares attractive. “We don’t have a completely digital listed company in India and Info Edge is the only representative as far as the digital age is concerned. That’s why there is exuberance from institutional investors,” said Kranthi Bathini, equity strategist at WealthMills Securities. The excitement around Info Edge is so high that investors have ignored the company has seen its profit decline for five straight quarters. “Info Edge has a unique business model and when you talk about the double digit GDP growth that India is aiming for, these are the kind of companies that will give tremendous returns,” said Bathini. <div type="image" title="info edge revenue profits final." msid="80925413" hostid="261"></div> “The company is expected to witness improving revenue and margin trends in coming quarters led by opening up of economy and market share gains,” said a ICICI Securities report from November 2020. For Info Edge, the recruitment portal Naukri.com is the only cash cow. However, <a href="https://www.businessinsider.in/business/news/info-edge-earnings-are-proof-that-not-all-internet-businesses-are-immune-to-the-covid-crash/articleshow/79163835.cms">the last year </a>has been tough due to the crash in sectors like real estate and employment opportunities, which went from bad to worse during the pandemic. <div type="image" title="Info edge segment final." msid="80925431" hostid="261"></div> <cmsannotation type="cmsannotation" annotationid="Zomato – the star in Info Edge portfolio" comment="subhead" text="Zomato – the star in Info Edge portfolio">Zomato – the star in Info Edge portfolio</cmsannotation> But it’s not just its own businesses that make Info Edge an attractive stock. Within it’s long list of investee companies, is the foodtech unicorn Zomato, which is expected to open the floodgate of technology IPOs in India in 2021. There’s also the insurtech unicorn PolicyBazaar which is looking at an IPO this year. In an <a href="https://www.businessinsider.in/business/startups/news/hitesh-oberoi-plan-to-make-the-5-billion-info-edge-worth-a-lot-more/articleshow/74096907.cms">earlier interview</a> with Business Insider, Hitesh Oberoi, CEO of Info Edge had said, “We had invested in Zomato, when it wasn’t even called so. It was called Foodiebay then. When we had started investing, there was no SoftBank (Japanese investment firm) – we were in the mindset to start investing in businesses that we understand.” Info Edge has an over 20% stake in Zomato. <div type="Youtube" id="I9uBWXKAlOE" title="How CEO Hitesh Oberoi&amp;#39;s plan to make the $5 billion Info Edge worth a lot more." thumbUrl="https://i.ytimg.com/vi/I9uBWXKAlOE/mqdefault.jpg"></div> Info Edge is doubling down on its image as the only game in the market for those who want a bite out of the digital boom. It announced its latest acquisition on Friday (February 12) along with its earnings. 4B Networks, which is a platform for brokers and developers, is also now in the Info Edge kitty. “Zomato’s and PolicyBazaar’s IPOs will be wealth creation for investors. Info Edge has invested in a lot of startups and the hope is that some of them will go on to become as successful as Zomato or Policybazaar,” said a market analyst. Some of Info Edge’s top investments <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato, foodtech unicorn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Policybazaar, insurtech unicorn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Makesense Technologies, recruitment software developer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shopkirana, a B2B e-commerce platform connecting FMCG brands and retailers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bijnis, a B2B e-commerce platform connecting manufacturers and retailers in the fashion industry </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shipsy, a global logistics SaaS company </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ustraa, a leading D2C men’s grooming brand </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gramophone, an agri-tech company providing agronomic insights to farmers coupled with delivery of agriculture inputs </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adda247, a government jobs focused online test preparation platform among other businesses. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Univariety.com, student career guidance platform </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nopaperfoams Solutions, enrolment automation platform </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/this-startup-helps-you-watch-shows-shop-online-and-access-the-internet-even-without-a-data-connection/articleshow/80918896.cms">This startup helps you watch shows, shop online and access the internet even without a data connection</a> <a href="https://www.businessinsider.in/stock-market/news/heres-why-analysts-believe-100-crore-ipo-of-dr-trusts-parent-nureca-is-a-sizeable-opportunity/articleshow/80919163.cms">Here’s why analysts believe ₹100 crore IPO of Dr Trust’s parent Nureca is a ‘sizeable’ opportunity</a>

Info Edge is now worth almost $10 billion even with its profits falling for five quarters in a row

The <keyword id="44910" type="PERSON" weightage="20" keywordseo="GDP-growth">GDP growth</keyword> in India after 2014 is a highly significant topic that seems to have been impacted by a number of factors. The BJP government headed by Prime Minister Narendra Modi came to power in May 2014 following a thumping victory in the Lok Sabha general elections. Four years after the government assumed the power, the <keyword id="6356076" type="DEFINITION" weightage="20" keywordseo="indian-economy">Indian economy</keyword> was found to have slipped back to the same state matching with what it was a year before the new government took charge. GDP reports from 2014 onwards During the financial year 2018, India’s GDP growth had slowed down to 6.7% when compared to what was recorded in the previous year as 7.1%. This figure was almost on par with the 6.6% GDP growth reported in the financial year 2014, just before the Lok Sabha elections were held. Hence the figures show the pace of growth of GDP under Narendra Modi government was the slowest. However, during 2015 and 2016, the GDP growth touched 7.3% and 8 % eventually slipping down in 2017 and 2018. The reasons for the slip in GDP growth after 2014 Tracing the reasons for the slow growth of GDP, the finance experts put the blame on a few policies of the government. The demonetization implemented by the Narendra Modi government affected a large number of businesses. Especially small businesses were the ones to suffer much. The scenario following 2016 also saw a large number of job losses across multiple industry domains. The government also introduced the GST (Goods and Service Tax) in July 2017 which was considered a massive reform by the BJP government. Though the move was heralded by many as a vital measure to regulate and systematize the taxation procedures, the implementation was not that easy. There were riddles of problems to solve and the implementation happened in a haphazard manner that also led to the slowing down of the GDP growth. Yet another area that contributed to the slowing down of GDP growth after 2014 is the private investments segment. In fact, this had been a major challenge to the country’s economy. Over the 12 months ending with March 2018, India had scrapped a large number of projects which was said to be an all-time high in terms of number and volume. This fact has been reported in the report published by the Center For Monitoring Indian Economy. The report card for the whole year does not look encouraging enough. Recovery and a quick surge in GDP growth Though the ride had been bumpy over the past four years after 2014, the Indian economy managed to be labelled as the fastest growing economy of the world in 2018. The World Bank has forecasted that India’s economy is all set to grow at a rapid pace than the other major economies of the world. Now India economy is the third largest in Asia and the trends seen at present can move Indian economy to the upper slots in the years to come. A significant recovery in private instruments and a strong growth in the consumption of goods and services in the private sector is expected to fuel the growth of Indian economy over the next few years.

What is the growth of GDP after 2014

New Delhi, Apr 3 (PTI) India may post in 2020-21 a <keyword id="44910" type="PERSON" weightage="20" keywordseo="GDP-growth">GDP growth</keyword> of 2 per cent, the slowest since the economy was liberalised 30 years back, Fitch Ratings said on Friday, as it joined a chorus of international agencies that have made a similar cut in growth estimates in recent days on concerns about the fallout of COVID-19 outbreak. Asian Development Bank (ADB) sees India's economic growth slipping to 4 per cent in the current fiscal (April 2020 to March 2021), while S&amp;P Global Ratings earlier this week further slashed its GDP growth forecast for the country to 3.5 per cent from a previous downgrade of 5.2 per cent. India Ratings &amp; Research too has revised its FY21 forecast to 3.6 per cent from 5.5 per cent earlier. Moody's Investors Service last week slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per cent and said the coronavirus pandemic will cause unprecedented shock to the global economy. These growth estimates compare to an estimated 5 per cent growth rate in 2019-20 fiscal that ended on March 31. <keyword id="6356076" type="DEFINITION" weightage="20" keywordseo="indian-economy">Indian economy</keyword> also grew by 5 per cent in the 2019 calendar year. Stating that an economic recession gripped global economy following the lockdowns due to COVID-19 pandemic, Fitch Ratings on Friday said the initial disruptions to regional manufacturing supply chains in China have now broadened to include local discretionary spending and exports. "Fitch now expects a global recession this year and recently cut our GDP growth forecast for India to 2 per cent for the fiscal year ending March 2021 after lowering it to 5.1 per cent previously, which would make it the slowest growth in India over the past 30 years," it said in a statement. The ADB in its flagship publication Asian Development Outlook (ADO) 2020, released early on Friday, said that India will stage a strong recovery in the next financial year on the back of its sound macroeconomic fundamentals. Growth in India will remain subdued after a disappointing 2019-20, it said, adding growth declined from 6.1 per cent in fiscal 2018-19 to 5 per cent as domestic investment and consumption collapsed under stress on non-banking financial companies and a sharp slowdown in credit growth more generally. "COVID-19 has not yet spread extensively in India, but measures to contain the virus and a weaker global environment will whip up headwinds, offsetting support from corporate and personal income tax cuts as well as financial sector reforms which are meant to revive credit flows," ADB said. "GDP growth in India is forecast to slow further to 4 per cent this year (2020-21) before strengthening to 6.2 per cent in fiscal 2021-22." The growth rate is below its decade average of 7 per cent. Fitch Ratings said micro, small and medium-sized enterprises and the services segment are likely to be among the most affected amid reduced consumer spending. Fitch Ratings in its 'Global Economic Outlook - Covid-19 Crisis Update' said India's GDP growth averaged 7.4 per cent during 2014-18, before dipping to 6.2 per cent in 2018-19. It estimated growth at 4.9 per cent in 2019-20 fiscal, which would further go down to 2 per cent in the current financial year before picking up to 7 per cent in 2021-22. Consumer spending is projected to fall to 1.8 per cent in current fiscal from 5.5 per cent in the previous, while fixed investment will see contraction widening to 3 per cent in FY21. Last week, Moody's Investors Service sharply cut India's growth forecast for calendar 2020 to 2.5 per cent from 5.3 per cent estimated earlier. S&amp;P Global Ratings had on Monday further slashed India's growth forecast to 3.5 per cent in 2020-21, saying "while lower official interest rates and government stimulus actions provide some relief, the slump in demand is likely to lead to declining credit quality and rising defaults, particularly among nonfinancial corporates with weaker credit profiles". The earlier downgrade to India's FY21 growth rate came on March 17, days before the 21-day lockdown was announced by Prime Minister Narendra Modi. S&amp;P had cited the global recession affecting the Asia-Pacific region while lowering its India estimate to 5.2 per cent from 5.7 per cent in February. Along with a 5 per cent growth forecast for FY20, the S&amp;P expects a sharp uptick in the Indian economy to 7.3 per cent in FY22. On March 20, Fitch had projected India's GDP growth for 2020-21 at 5.1 per cent, lower than 5.6 per cent estimated in December 2019. ADB put global losses from COVID-19 in the range from USD 2 trillion to USD 4.1 trillion, equal to 2.3-4.8 per cent of global GDP.

India may post a GDP growth of 2% in 2020-21, the slowest since the economy was liberalised 30 years back

He might have dozed off during his yoga session on the International Yoga Day, but as a <keyword id="6356245" type="POSITION" weightage="20" keywordseo="minister">minister</keyword> of railways, the lifeline of India, Sures Prabhu dreams big. His ministry is looking at $500 billion investment for next 10-12 years, according to a news report in The Economic Times. 
 "We need to focus on infra sector for growth in India. Infra growth directly relates to <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> growth in India," he told the ET. 
 "We are focusing on adding capacity, modernising Railways. We will give out high value contracts for rail infra in the next 6 months.We are negotiating with various companies for <keyword id="6357455" type="EVENT" weightage="20" keywordseo="Funding">funding</keyword> rail capex," Prabhu added. 
 In his <keyword id="6354616" type="CITY" weightage="20" keywordseo="Twitter">Twitter</keyword> handles, Prabhu has tweeted, "Dedicated Freight Corridor gets big boost. It will drastically change the Rail, there will be 50% jump in freight," he has tweeted earlier in the day. "DFC will increase Rail revenues, add speed to goods movement, and reduce congestion, passenger trains will run at increased speed, punctuality.” 
 
According to Prabhu, "DFC plays a big role in PM mission Make in India as cost, time of goods movement improves, will create jobs." He estimates that it will take 3-4 years time to complete DFC. 
 The Cabinet has given approval for the revised cost estimate of DFC Project, including land costs and financing plan. The corridor will pass through Punjab, Haryana, Uttar Pradesh, <keyword id="30033" type="COMPANY" weightage="20" keywordseo="Bihar">Bihar</keyword>, <keyword id="6360371" type="COMPANY" weightage="20" keywordseo="Jharkhand">Jharkhand</keyword>, <keyword id="6357783" type="CITY" weightage="20" keywordseo="West-Bengal">West Bengal</keyword>, Maharashtra, Gujarat and Rajasthan. 
 
The revised cost estimate comprises construction cost of Rs 73,392 crore of the Eastern and Western DFC. The land acquisition cost will be Rs 8,067 crore. This excludes the cost of the 534-km Sonnagar-Dankuni section proposed to be implemented through Public-Private Partnership (PPP) route, confirms the ET news report.

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What is the growth of GDP after 2014

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