Economy Archives - Page 22 of 103

Economy

September 25, 2024 6:27 PM

India’s coal imports rise amid surge in power generation

India, which holds the fifth-largest coal reserves globally, ranks as the second-largest coal consumer, fueled by a rapidly expanding economy. However, the current consumption scenario highlights a pressing need for imports, especially for coking coa...

September 25, 2024 5:50 PM

Manufacturing sector to account for 25% of India’s economy by 2047: Piyush Goyal

On the 10th anniversary of the 'Make in India' initiative, Union Minister of Commerce and Industry, Piyush Goyal, outlined the country's future growth trajectory, with manufacturing set to play a central role. Speaking on Wednesday, Goyal projected t...

September 25, 2024 4:49 PM

Sensex, Nifty soar to new record highs

India’s benchmark indices continued their record-breaking run on Wednesday, with the Nifty closing above the 26,000 mark for the first time, buoyed by strong gains in energy, metal, and media stocks. The Sensex added 255.83 points, or 0.30 per...

September 25, 2024 3:47 PM

India surpasses Japan to become third-largest power in Asia Power Index

India has surpassed Japan to become the third-largest power in the Asia Power Index, an official release from the Ministry of Information and Broadcasting said on Wednesday. The ministry emphasised that this achievement is fueled by India’s rapid ...

September 25, 2024 3:37 PM

ADB projects India’s growth at 7% for FY24, 7.2% for FY25

The Asian Development Bank (ADB) has projected India’s economic growth at 7% for the financial year 2024 and 7.2% for FY2025, stating that the country’s economy remains strong. ADB’s Country Director for India, Mio Oka, said that India has disp...

September 25, 2024 3:30 PM

India, Australia in talks for a comprehensive economic cooperation agreement: Australian Minister

Australia is actively negotiating a Comprehensive Economic Cooperation Agreement (CECA) with India, Australia's Minister for Trade and Tourism, Don Farrell, said on Wednesday. His remarks followed a meeting with India's Union Commerce and Industry M...

September 25, 2024 11:45 AM

OPEC boosts long-term oil demand outlook, driven by developing world growth

OPEC raised its forecasts for world oil demand for the medium and long term in an annual outlook, citing growth led by India, Africa and the Middle East and a slower shift to electric vehicles and cleaner fuels. The Organization of the Petroleum Exp...

September 25, 2024 10:51 AM

ADB maintains growth forecast for Developing Asia, says more stimulus expected in China

Developing Asia is on track to grow 5% this year, supported by strong consumption and high demand for tech exports, the Asian Development Bank (ADB) forecast on Wednesday, and said China was expected to roll out more economic support measures. In an...

September 25, 2024 10:50 AM

India-China relationship key to Asia’s future: EAM Jaishankar

India's External Affairs Minister S. Jaishankar emphasized the pivotal role of the India-China relationship in shaping the future of Asia and the world during his address at the Asia Society Policy Institute in New York on Tuesday. In a rapidly evolv...

September 25, 2024 9:07 AM

Prime Minister Modi has built a strong relationship with United States, says World Bank President

World Bank President Ajay Banga heaped praise on Prime Minister Narendra Modi for prioritising on building a strong relationship with the United States both bilaterally and also through the Quad security grouping, adding that it has been his strategy...

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