Indicators
India's forex reserves fall by $6.92 billion to $695.36 billion for week ending Oct 24
India's foreign exchange reserves saw a decrease of $6.92 billion, reaching $695.36 billion by October 24. This follows a rise in the previous week, which was boosted by an increase in gold reserves. The Reserve Bank of India monitors the foreign exchange market and intervenes to ensure stable trading conditions.
India's April-September fiscal deficit at Rs 5.73 lakh crore, widens on-year to 36.5% of FY26 aim
India's fiscal deficit for April to September, or the first six months of this fiscal year, was at 5.73 lakh crore rupees, equivalent to 36.5% of annual estimates, widening from the previous year's 29.4%. The government aims to narrow the fiscal gap to 4.4% of GDP in this financial year from 4.8% a year earlier.
US, Singapore accounted for 1/3rd of FDI in FY25: RBI
The US and Singapore collectively contributed over a third of India's Foreign Direct Investment (FDI) in 2024-25, as per the Reserve Bank of India's latest census. Other significant sources of FDI included Mauritius, the UK, and the Netherlands. The census covered cross-border liabilities and assets of Indian entities.
Consumption gap seen across UP districts: Report
A new study uncovers significant variations in spending habits throughout Uttar Pradesh's districts. Shrawasti and Gautam Buddha Nagar lead the way in monthly per capita consumption expenditure in rural areas, while Mirzapur and Chandauli remain at the lower end of the spectrum. Urban districts mirror this trend, with Gautam Buddha Nagar shining brightly and Ghazipur trailing behind.
Why AI-led layoffs are bad not just for the laid off: Big reality check coming for Indian economy
India's tech sector faces a concerning trend of silent layoffs, potentially impacting over 50,000 jobs this year, alongside overt dismissals. This slowdown risks India's consumption-driven economy, as IT employees are key consumers. While AI poses job displacement risks, it also offers potential for millions of new roles through reskilling and R&D.
Indian economy resilient amid global headwinds; GDP growth likely to near 7% in FY26: CEA
Chief Economic Advisor V Anantha Nageswaran expressed confidence in India's economic resilience, projecting real GDP growth to reach 7% in FY26. He highlighted recent upgrades by global rating agencies, suggesting India is poised to soon achieve an 'A' rating. Nageswaran also addressed concerns about credit growth by emphasizing overall resource mobilization.
India’s young economy could surpass China’s, says former Singapore PM
Singapore's Senior Minister Lee Hsien Loong believes India's younger population and economic potential could lead it to eventually surpass China's growth. He also discussed China's role in the global system, noting its benefit from the WTO and its desire to uphold a rules-based order, albeit with a cautionary note on great power restraint.
Slowdown in India's industrial output in H1FY26 will be offset in H2FY26 by GST reforms and festive boost: Report
India's industrial output slowdown in the first half of fiscal year 2025-26 is expected to be countered by GST rationalisation. An early festive season and lower inflation will also boost the economy. These factors signal growing domestic strength. Reforms are expected to enhance production and support growth momentum in the second half of the fiscal year.
Bright spot: Manufacturing, festive push keep factory output steady at 4% in September
India's industrial output showed steady growth in September. Manufacturing led the expansion, offsetting slower performance in mining and electricity. Demand was boosted by inventory stocking ahead of Goods and Services Tax cuts during the festive season. This positive trend is expected to continue in the coming months.
India's industrial production slows to 4% in September from 4.1% in August
India's industrial output rose 4% in September, boosted by a stronger manufacturing sector. This marks an improvement from the previous year, though core industry growth slowed significantly. Manufacturing output increased by 4.8%, while mining and electricity generation also saw positive growth.
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Finance Ministry projects robust growth in FY26, cites GST cuts and festive demand as key drivers
India's finance ministry projects a strong growth outlook for FY26, driven by stimulated consumption from GST cuts and favorable domestic conditions. Despite global uncertainties, the nation demonstrates export diversification and resilience, supported by structural reforms and monetary policy aimed at sustained economic momentum.
Business confidence dips in second quarter on global headwinds: NCAER
Indian business confidence saw a dip in July-September. This followed three quarters of improvement. A US tariff and global uncertainties impacted sentiment. However, firms still expect production and exports to rise in the coming months. The overall economic outlook remains positive, though growth momentum has slowed. MSMEs showed a slight increase in confidence, while large firms experienced a decline.
New GDP series to map India’s digital economy and gig sector
India is set to launch a new GDP series next year, shifting its base year to 2022-23 to better capture the nation's burgeoning digital economy. This updated series will incorporate richer data from e-commerce, gig work, and digital payments, offering a more detailed reflection of economic transformation.
Biz sentiments moderate in 2nd quarter FY26 due to global uncertainties: NCAER Survey
Indian business confidence dipped in the second quarter of fiscal year 2025-26. This moderation followed three quarters of improvement. Global uncertainties, including new US tariffs, impacted sentiments. GST reforms and tax rate reductions are expected to influence future quarters. The Business Confidence Index saw a slight decrease. Positive responses remained above 50 percent for key components, indicating slower growth momentum.
India's growth outlook for FY26 remains strong, says Finance Ministry
India’s growth outlook for the current fiscal remains robust, driven by strong domestic demand, a good monsoon, easing inflation, and recent GST rate cuts, the government said in its September economic report. The report noted that the impact of GST reforms is already visible, citing a sharp rise in average daily UPI transaction volumes and values in October, signalling stronger festive demand.
Domestic consumption expected to cushion India's growth slowdown in H2: SBICAPS
India's economic growth is projected to remain steady in the latter half of the fiscal year, driven by robust domestic consumption and increased government capital expenditure. Despite global trade uncertainties and US tariffs, internal demand provides stability, with festive sales expected to reach a record high. The RBI's measures to ease credit flow further support economic resilience.