Economic Growth

June 15, 2025 10:46 AM

India on track to become world’s third-largest economy by 2029: Sarbananda Sonowal

Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal said on Saturday that India is firmly on track to become the world’s third-largest economy by 2029, crediting 11 years of Prime Minister Narendra Modi’s “decisive and corruption-free” governance for triggering an “unstoppable surge” in national development. Addressing a press conference in Dibrugarh to mark the NDA government’s 11th anniversary, Sonowal said that India has moved past an era of 'policy paralysis and...

June 6, 2025 12:14 PM

RBI pegs India’s GDP growth at 6.5% for 2025-26

The Reserve Bank of India (RBI) has projected India’s Gross Domestic Product (GDP) growth at 6.5 per cent for 2025-26, with domestic economic activity showing resilience on the back of a strong agriculture sector, industry picking up, and the services sector expected to maintain momentum. The quarterly growth rates projected for the financial year are: Q1 at 6.5, Q2 at 6.7, Q3 at 6.6 and Q4 at 6.3 per cent. “The provisional estimates released by the National Statistical Office (NSO) placed...

April 17, 2025 9:01 PM

India’s economic fundamentals strong, growth outlook bright: industry leaders

India’s economic growth story is set to gain further momentum, underpinned by strong fundamentals, robust policymaking, and a skilled workforce, according to top industry leaders. On the sidelines of the 120th anniversary celebrations of the PHD Chamber of Commerce and Industry (PHDCCI), the leaders voiced confidence in the country’s economic trajectory under the third term of Prime Minister Narendra Modi’s government. Raghupati Singhania, Chairman and Managing Director of JK Tyre & ...

February 27, 2025 5:32 PM

National Geospatial Policy: liberalizing access to geospatial data

The National Geospatial Policy (NGP), announced by the Centre on December 28, 2022, seeks to liberalize access to geospatial data, foster innovation in governance, business, and academia, and drive India toward its vision of a self-reliant "Viksit Bharat" by 2047. A key objective of the NGP is to establish a high-resolution topographical survey and mapping system by 2030, along with creating a highly accurate Digital Elevation Model (DEM) for the entire country. The policy outlines a strategic...

November 25, 2024 11:29 AM

India’s economic growth expected to accelerate in Oct-Dec quarter: Report

India's economy is projected to grow at a faster pace in the third quarter of the current financial year (October-December 2024) compared to the first half (April-September 2024) as positive indicators are emerging with economic activity picking up pace, according to a report by ICRA. The report states that the preliminary data for November indicates a positive trend. The growth in electricity demand has picked up, while festive season demand continues to drive an increase in vehicle registrati...

November 21, 2024 3:05 PM

India’s economic activity growth hits 8-month high in October: report

India’s economic activity growth surged to an eight-month high of 10.1% in October, up from 6.6% in September, despite an unfavorable base effect, according to a report released on Thursday. The growth momentum was driven by the end of the monsoon season, which positively impacted sectors such as mining and electricity. Additionally, strong festive season demand boosted vehicle registrations, fuel consumption, and air travel, while exports witnessed a significant surge, said credit rating age...

October 22, 2024 6:09 PM

India’s economy set to grow at 7-7.2% in FY25 despite temporary slowdown: Deloitte report

India's economic growth is projected to reach between 7.0% and 7.2% in the fiscal year 2024-25, according to Deloitte India’s latest Economic Outlook. This positive forecast comes despite a recent slowdown, with GDP expanding by 6.7% year-on-year in the April-June quarter, marking the slowest pace in the last five quarters. The country continues to be among the fastest-growing major economies, driven by favorable domestic conditions. Key factors such as strong manufacturing activity, stable o...

September 25, 2024 3:34 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 displayed resilience in the face of global geopolitical challenges and is set for steady expansion. Oka added that improvements in agriculture are expected to boost rural spending, complementing the robust performance of the industry and services sectors...

May 15, 2024 7:57 PM

Nepal Aims for Economic Growth Surge to 7.3% in 16th Plan

The government of Nepal's policy and program document for the upcoming fiscal year 2081/82 was tabled at a joint meeting of the federal parliament, with President Ram Chandra Paudel addressing the session yesterday. The economic growth rate of Nepal is projected to reach 7.3 per cent in the next five years. President Paudel highlighted refinancing and loan restructuring provisions to assist microfinance borrowers facing difficulties. Additionally, the government announced plans to offer loans t...