Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>CRISIL cut the country’s growth estimates by 0.2% to 6.9% for the current financial year.</li><li>In 2017, the country clocked in an impressive 8.2% growth which was the fastest in the decade.</li><li>This year’s average corporate revenues were at 8%, lower than the double-digit growth seen in the last two years.</li></ul> Weak monsoons, sluggish auto sales and global cues are eating into India’s economic growth. Calling it a ‘triangulation’ of downside risks, rating agency CRISIL cut the country’s growth estimates by 0.2% to 6.9% for the current financial year. This year, India's growth might be less than the 14-year record average of 7%. Like <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">many corporates</a>, the agency too is blaming the government. “Given the crosswinds, the sops announced so far might not be enough to pitchfork growth in this fiscal to, or above 7% per annum,” said Ashu Suyash, managing director of CRISIL said in a report on India, which was ominously titled - ‘Uphill Trek’. Just two years back, in 2017, the country clocked in an impressive 8.2% growth which was the fastest in the decade. This was followed by a cyclical downturn which came from policy initiatives along with <a href="https://www.businessinsider.in/the-only-thing-we-know-about-a-no-deal-with-china-is-that-it-would-be-terrible-for-the-worlds-economy/articleshow/70457337.cms">global trade disruption</a>. No loans, slow sales Indians are <a href="https://www.businessinsider.in/indias-consumer-confidence-has-taken-two-years-to-recover-from-demonetisation/articleshow/67896852.cms">consuming less</a>, which is affecting companies. This year’s average revenues were at 8%, which is starkly lower than the double-digit growth seen in the last two years. 
 <div type="Article" hostid="261" msid="70329099" title="Six Indian blue-chip companies have declared earnings so far - most of them lack the &amp;#39;markets mojo&amp;#39;" mstype="2" mssubtype="0"></div>



 Sales are also affected by crisis in the non-banking finance companies (NBFCs). As they are unable to access funding, they are also <a href="https://www.businessinsider.in/url-budget-2019-proposals-to-improve-market-liquidity-in-banks-nbfcs/articleshow/70090570.cms">disbursing less</a>, slowing down the growth engine. One of the many sectors affected by the lack of finance from shadow banks are automobiles. “Sales volume <a href="https://www.businessinsider.in/maruti-suzuki-july-sales-fall-by-33-5/articleshow/70477046.cms">in the automobiles sector</a> will be impacted by a trifecta – of spurt in costs due to changes in regulation, tightening liquidity, and moderating income growth. Somber farm incomes will also weigh on rural-led segments such as FMCG,” said Prasad Koparkar, Senior Director, CRISIL Research. Where do we go? The crucial question remains---can the government do something to change the falling fortunes? It sees that even if it helps stimulate the economy, it would either fall short and won’t last long either. “Given the fiscal constraints, public spending is unlikely to have the heft to pull growth above 7%. And some of the recent, and much-needed, reforms would pay off only over the medium term. There would, therefore, be some near-term onus on monetary policy to stimulate. But how effective that can be is the big question,” said Dharmakirti Joshi, Chief Economist, CRISIL. SEE ALSO: <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">Narendra Modi has a new problem – big corporates and moneybags are angry</a>

India's economic growth this year may be less than the 14-year average
-- and the government is helpless

<a href="http://www.businessinsider.in/markets/budget2016/infrastructure/renewable-energy/ADB-is-helping-India-realize-its-solar-dreams-to-provide-500-mn-loans-for-solar-rooftops/articleshow/54677920.cms">Asian Development Bank</a> (ADB), the regional development bank headquartered in Phillippines, has said that <a href="http://www.businessinsider.in/indias-fiscal-deficit-touches-rs-6-trillion-in-11-months-above-2016-17-target/articleshow/57940627.cms">India's growth rate</a> will improve to 7.4% during 2017-18, further rising to 7.6% in the next fiscal. It added that Indian economy would stay ahead of neighbour China. 
 
"The impact of the demonetisation of high-value banknotes is dissipating as the replacement banknotes enter circulation. Stronger consumption and fiscal reforms are also expected to improve business confidence and investment prospects in the country," said a report in Asian Development Outlook, ADB's flagship economic publication. 
 
Also read: <a href="http://www.businessinsider.in/Asian-Development-Bank-trims-growth-forecast-for-Asia-due-to-slowdown-in-India/articleshow/55955434.cms">Asian Development Bank trims growth forecast for Asia due to slowdown in India</a> 
 
"In India, the sub-region's largest economy, growth is expected to pick up to 7.4% in fiscal year (2017-18) and 7.6% in 2018-19, following the 7.1% registered last FY," it said. 
 
During FY <a href="http://www.businessinsider.in/markets/economy/ADB-predicts-a-slower-growth-for-developing-Asia/articleshow/51611322.cms">2016-17</a>, India recorded a growth rate of 7.1%, notwithstanding the fear of adverse effects of demonetisation on the economic growth. 
 
As about China, the overall output was pegged at 6.5% for 2017 and 6.2% in 2018; in 2016, it was 6.7%. 
 
Also read: <a href="http://www.businessinsider.in/markets/this-how-you-know-something-desperate-is-going-on-in-chinas-economy/articleshow/57071274.cms">This is how you know something desperate is going on in China's economy</a> 
 
The report further said that South Asia would continue to be the fastest growing of all subregions, and its combined growth would touch 7% in 2017 and 7.2% in 2018. 
 
(Image source New Indian Express)

ADB pegs India's 2017-18 growth at 7.4%

<ul><li>The <keyword id="8194701" type="General" weightage="20" keywordseo="refurbished-smartphone" source="Orion">refurbished smartphone</keyword> market has recorded rapid growth in India.</li><li>While the unorganised sellers dominate the market, the organised sellers are also growing.</li><li>Affordability and shorter upgrade cycles are among the factors fueling the refurbished smartphone market.</li></ul> India's refurbished smartphone market is experiencing significant growth, outpacing the new smartphone sector. This reflects a maturing market which is increasingly catering to consumers looking for affordable yet reliable options. According to a report by Counterpoint Research, unorganised sellers dominate the refurbished smartphone market, accounting for 77% of transactions. The Indian refurbished smartphone sector has traditionally been dominated by unorganised players, offering devices at a fraction of the cost of the new models. However, the introduction of value-added services like warranties, quality assurance, and after-sales support by emerging e-commerce platforms is beginning to formalise this market, enhancing consumer trust and driving further growth. <h2>What’s fueling the refurbished smartphone market</h2><h3>Affordability</h3><keyword id="2698558" type="General" weightage="20" keywordseo="refurbished-smartphones" source="Orion">Refurbished smartphones</keyword> offer consumers access to higher-end hardware at lower costs, making premium technology more accessible to a broader audience. This aspect is particularly appealing in a price-sensitive market like India. <h3>Shorter upgrade cycles</h3>With technology evolving rapidly, many users prefer to upgrade their phones more frequently. Refurbished devices provide an avenue for this without the high cost associated with new purchases. <h3>Environmental impact</h3>There's a growing awareness of the environmental benefits of using refurbished products, which reduces electronic waste and the demand for new manufacturing, which is resource-intensive. <h3>Consumer confidence</h3>The entry of organised players who provide guarantees and quality checks on refurbished devices has significantly boosted consumer confidence. These services add a layer of reliability to what was once a market fraught with uncertainty about product condition and longevity. Despite the growth in the unorganised sector, there's a noticeable trend towards formalisation. E-commerce platforms specialising in refurbished goods are expanding, providing consumers with the convenience of online shopping backed by credible service commitments. The report also notes that this growth is not just contained within India. Globally, the refurbished smartphone market is on an upward trajectory, with similar trends observed in markets like Latin America, suggesting a broader international shift towards sustainable consumption in electronics. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/moto-g35-5g-with-120hz-5000mah-battery-launched-at-9999/articleshow/116172283.cms">Moto G35 5G with 120Hz display, 5,000mAh battery launched at ₹9,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-14-pro-and-redmi-note-14-pro-launched-in-india-starting-at-24999/articleshow/116134415.cms">Redmi Note 14 Pro and Redmi Note 14 Pro+ launched in India starting at ₹24,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a>

India's refurbished smartphone market witnesses accelerated growth

New Delhi [India], May 18 (ANI): India is poised to grow at 6.2 per cent in the current financial year 2023-24 with improving macro stability indicating that the monetary policy will not have to turn restrictive, <keyword id="48670" type="General" weightage="80" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword> has said. In a report titled "Asia Economics: The Viewpoint: Addressing the Pushback to Our Constructive View", authored by Chetan Ahya, Derrick Y Kam, Qiusha Peng, and Jonathan Cheung, Morgan Stanley said India enjoys tailwinds -- both cyclical and structurally. "We see healthy balance sheets sustaining the robust trends in domestic demand. Improving macro stability means the monetary policy will not have to turn restrictive, allowing the economic expansion to continue," the report said. In the three-day deliberations of the <keyword id="6375120" type="General" weightage="50" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> of the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> in early April, Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> said the central bank has projected India's real GDP growth for 2023-24 at 6.5 per cent. Late last year, investors had raised concerns over India's growth momentum as growth indicators had slowed post the festive season in October. However, growth indicators reaccelerated in early 2023. For instance, the services Purchasing Managers' Index is at a 13-year high and the manufacturing PMI is near an 11-year high, both well above that of other economies; passenger vehicle sales are at 131 per cent of pre-covid levels, real goods and services tax collections are 35 per cent higher than pre-covid. Against those thriving fundamentals, Morgan Stanley's chief India economist Upasana Chachra expects GDP growth of 6.2 per cent for 2023-24, higher than the wide expectation of 5.8 per cent. Further, clearing doubts about India's rural spending, the Morgan Stanley report said it is of the view rural spending will strengthen. "As we noted previously, it is the case that rural and lower-income consumers are taking longer to revive spending as they have not received stimulus, and they had suffered a loss of purchasing power as inflation rose. But, as these effects fade, spending by rural and lower-income consumers is recovering. Indeed, real agricultural credit growth - a proxy for rural activity - has rebounded to the highest level since 2016, boding well for rural employment and consumption," the report read. (ANI)

India poised to grow at 6.2% in 2023-24 says Morgan Stanley

<ul><li>Among the group of top 10 economies, the most positive prospects in terms of international trade are related to India, said an S&amp;P report. </li><li>It also said that the country does not seem to be impacted by the global economic slowdown to a large extent.</li></ul>New Delhi [India], November 18 (ANI): Among the group of top 10 economies, the most positive prospects in terms of international trade are related to India and the country does not seem to be impacted by the global economic slowdown to a large extent, S&amp;P Global Market Intelligence said in its latest Global Trade Monitor report. The top 10 economies by GDP in 202, according to the report, include the US, EU27, mainland China, Japan, the UK, India, Brazil, South Korea, Canada, and Russia. These countries are responsible for approximately four-fifths of the world GDP and three-quarters of global exports, with most trade carried out within the group. The section in the report on expectations for international trade in the next months said the global economic slowdown now is more and more visible. Monthly historical data clearly shows that in the top 10 economies exports are primarily impacted slowing down in the majority of economies within the group. "The picture is slightly more optimistic for imports, yet the situation is expected to deteriorate in the forthcoming months for both exports and imports, which is reflected in the most recent PMI NExO readouts," the report said. The consequences of the global economic slowdown are not that apparent in the monthly data for 2022 as in the first three quarters of the year, the dynamics of exports and imports were relatively strong in the top 10 economies. "This should translate in still positive growth in 2022 from the yearly perspective, yet in 2023 global trade contraction may be expected. GTAS Forecasting expects trade recovery to start in 2024, returning to the long-term stable growth path," it added. On economic growth, the report said the months ahead will likely bring recessions in Europe, the US, Canada, and parts of Latin America. With moderate growth in Asia Pacific, the Middle East, and Africa, the world economy can avoid a downturn, but growth will be minimal. Global real GDP growth is projected to slow from 5.9 per cent in 2021 to 2.8 per cent current year and 1.4 per cent in 2023. Notably, S&amp;P Global Market Intelligence revised down the 2023 growth rate 0.6 percentage point from the last month's forecast. (ANI)

India has the best international trade prospects among top 10 economies: S&P

The <keyword id="34609" type="UNKNOWN" weightage="100" keywordseo="services-industry">services industry</keyword> continues to be the key driver of growth for the <keyword id="6356076" type="UNKNOWN" weightage="100" keywordseo="indian-economy">Indian economy</keyword> this year too. Growth has been capped at 9.2%, which is slightly lower than the 10.3% projection in last year's report. 
 
According to the Economic Survey 2014-2015, IT and ITeS made up as the single largest contributor to India's Services exports growth. 
 
It is one of the largest employers in the country, employing nearly 35 lakh people. 
 
(More results from the recent report awaited)

No Surprise: Services will keep driving India's growth

<ul><li>According to the International Labour Organisation’s India Wage Report, the average annual wage growth from 1993-94 to 2011-12 was 3.7%, while <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> grew at a yearly rate of 7%. </li><li>By 2011-12, the overall daily wage in India was around ₹247, while casual workers, estimated to total 62% of the total workforce, only earned ₹143 a day. </li><li>It does bear mentioning, however, that the gender wage gap has decreased from 48% in 1993-94 to 34% in 2011-12. </li></ul>When India opened up its economy in 1991, the goal of the policy was clear: to accelerate <keyword id="47276" type="PERSON" weightage="20" keywordseo="Economic-growth">economic growth</keyword>. Two decades, later, it seems that India’s financial liberalisation - which comprised a surge in foreign investment, a reduction in tariffs and deregulation- has had its intended effect on India’s GDP and then some. However, a recent <a href="https://www.ilo.org/wcmsp5/groups/public/---asia/---ro-bangkok/---sro-new_delhi/documents/publication/wcms_638305.pdf">report</a> by the International Labour Organisation shows that this growth hasn’t been inclusive, indicated by the fact that wage growth in India has significantly trailed economic growth from 1993-94 to 2011-12. Over the period in question, the average annual growth in <keyword id="6356975" type="UNKNOWN" weightage="20" keywordseo="wages">wages</keyword> was a mere 3.7% compared to the 7% average yearly growth in India’s GDP. On a cumulative basis, India’s GDP grew by four times in the last two decades, while real wages only doubled. Interestingly, most of the increase in wages came in the last 8 years. This sluggish wage growth has contributed to a rise in inequality and exacerbated the economic divide between rural and urban areas. The daily wage in urban centres in India is still double that of rural areas, indicating a lack of good-quality jobs in rural regions of the country. By 2011-12, the overall daily wage in India was around ₹247, while casual workers, estimated to total 62% of the total workforce, only earned ₹143 a day. Additionally, nearly half of India’s workforce is estimated to be employed in the agricultural sector, a sector that has consistently trailed others in terms of output growth and productivity. The report did show a few positive changes. Rural wages increased at a faster pace than urban wages. Additionally, wages for female workers also increased at a faster pace than wages for male workers. However, this is largely due to the fact that both rural wages and female wages had a low base from which to grow from. It does bear mentioning, however, that the gender wage gap has decreased from 48% in 1993-94 to 34% in 2011-12. The <keyword id="6456249" type="UNKNOWN" weightage="20" keywordseo="ilo">ILO</keyword> suggested a number of ways to reduce the level of wage inequality such as the continued revision of minimum wage laws, the improved collection of worker data by government agencies, the formalisation of the informal sector and the implementation of skilling programmes to improve labour flexibility and productivity.

You Searched For "india growth" and got 7 results

India's economic growth this year may be less than the 14-year average -- and the government is helpless

Katya Naidu

ADB pegs India's 2017-18 growth at 7.4%

India's refurbished smartphone market witnesses accelerated growth

Sourabh Jain

India poised to grow at 6.2% in 2023-24 says Morgan Stanley

ANI

India has the best international trade prospects among top 10 economies: S&P

ANI

No Surprise: Services will keep driving India's growth

Anushree Singh

India's wage growth significantly trails economic growth, says the ILO

Dilsher Dhillon

Popular Keywords

Buying Guides