gdp

January 21, 2025 3:49 PM

India projected to account for 16% of global consumption by 2050: report

India is projected to account for 16% of global consumption by 2050, up from 9% in 2023, according to a report by McKinsey Global Institute titled "Dependency and Depopulation: Confronting the Consequences of New Demographic Reality." By 2050, only North America, with a projected 17% share, will surpass India’s global consumption share. These estimates are based on purchasing power parity, which adjusts for price differences across countries. India’s rise in global consumption share is pri...

January 19, 2025 4:35 PM

India to grow at 6.7% for next two years: World Bank

India is projected to sustain its position as the fastest-growing major economy, with a growth rate of 6.7% in both FY26 and FY27, according to the World Bank’s latest Global Economic Prospects (GEP) report, outpacing a global growth projection of 2.7% for 2025-26. The GEP report attributes India’s robust growth to a thriving services sector and a revitalized manufacturing base, driven by transformative government initiatives. From modernizing infrastructure to streamlining taxes, these mea...

January 15, 2025 4:02 PM

India projected to see 5-times surge in green investments at Rs 31 lakh crore till 2030

India is projected to see a five-fold growth in green investments to Rs 31 lakh crore between 2025 and 2030, a Crisil report showed on Wednesday. Of the Rs 31 lakh crore investments, Rs 19 lakh crore is seen going into renewable energy and storage, Rs 4.1 lakh crore into transport and automotive sectors and Rs 3.3 lakh crore into oil and gas, according to the report presented at the Crisil's ‘India Infrastructure Conclave 2025’ in the national capital. This is a crucial part of an estimate...

January 14, 2025 12:47 PM

India’s GDP growth likely to reach 6.7% next fiscal: Crisil

India’s gross domestic product (GDP) growth is projected to improve to 6.7% in the next fiscal year (FY25), according to a Crisil Intelligence report. The report noted that a sustained decline in food inflation, combined with stable non-food inflation, could create room for a rate cut by the Reserve Bank of India (RBI) in the coming months. Headline inflation is steadily progressing toward the RBI's 4% target, as food inflation eased for the second consecutive month and non-food inflation rem...

January 7, 2025 8:16 PM

India’s GDP growth pegged at 6.4% for 2024-25

India’s Gross Domestic Product (GDP) is expected to grow by 6.4% in the financial year 2024-25, down from the 8.2% growth recorded in 2023-24, according to the first advance estimates released by the Ministry of Statistics on Tuesday. This projection is lower than the Reserve Bank of India’s (RBI) recent estimate of 6.6% for the current fiscal year. Despite this, India continues to retain its position as the fastest-growing major economy globally, while China’s growth rate is projected to...

January 3, 2025 5:40 PM

India’s Economic Surge: A Decade of Transformation

India has undergone significant policy changes since 2014, emerging as a credible alternative for global businesses to establish operations. With the world seeking a manufacturing base beyond China, India has become a preferred destination thanks to reforms introduced over the past decade. These policy measures are reflected in the country’s positive economic indicators. Since 2015, India has implemented significant changes in its gross domestic product (GDP), manufacturing expansion, market ...

December 31, 2024 12:18 PM

India’s current account deficit to stay at 1% of GDP for FY2025: CRISIL report

India's current account deficit (CAD) is projected to remain at a safe 1% of GDP for fiscal year 2025, rising from 0.7% in the previous year, according to a report by CRISIL. While geopolitical risks may pose challenges, strong financial inflows and a steady services trade surplus are expected to underpin economic stability. In the second quarter (Q2) of FY2025, the CAD stood at $11.2 billion, equivalent to 1.2% of GDP, showing little change from $11.3 billion (1.3% of GDP) in the same period l...

December 12, 2024 12:53 PM

India’s $2.2 trillion infrastructure drive to fuel $7 trillion economy by 2030, boosting private investment

An estimated $2.2 trillion investment in infrastructure development is crucial for India to expand its GDP to $7 trillion by 2030, according to a report released on Thursday. To achieve this ambitious economic size, India’s economy must grow at a compounded annual growth rate (CAGR) of 10.1% between 2024 and 2030, as highlighted in the report by Knight Frank India. The report estimates that the investment opportunity for private sector participation in India’s infrastructure development ra...

December 2, 2024 10:37 PM

Govt updates forest cover data and implements forest conservation amendments

The Ministry of Environment, Forest and Climate Change has announced a significant update in its assessment of the country's forest cover. The Forest Survey of India (FSI) will now use the updated base year of 2022-23 for compiling the Gross Domestic Product (GDP) and forest cover data, replacing the previous base year of 2011-12. The assessment of forest cover, which is conducted biennially, shows that India’s total forest cover now stands at 7,13,789 square kilometers, accounting for 21.71%...

December 2, 2024 10:08 PM

Government to update GDP base year to 2022-23

The Government of India has announced its decision to revise the base year for the calculation of Gross Domestic Product (GDP) from 2011-12 to 2022-23, marking a significant update to the country’s national accounting framework. An Advisory Committee on National Accounts Statistics (ACNAS) has been constituted to facilitate the transition. The committee includes representatives from central and state governments, the Reserve Bank of India, academia, and research institutions. Its primary rol...