November saw a 2% month-on-month decrease in the cost of home-cooked vegetarian thalis in India, while non-vegetarian thali costs remained unchanged. Fluctuations in vegetable prices, particularly a 17% drop in tomato prices, and increases in onion and potato prices, played a significant role. CRISIL Market Intelligence and Analytics offers insights into the factors influencing these trends and future predictions.
Credit card spending in India reached a record ₹2.02 lakh crore in October, a 13% year-on-year increase, driven by the festive season and promotional offers. This surge contrasts with a decline in debit card transactions, highlighting the increasing popularity of credit cards and the rise of digital payments.
India is projected to be the fastest-growing G20 economy in 2024, with a 7% GDP growth rate, outpacing other major economies like Indonesia (5%), China (4.8%), and Russia (3.6%). This strong performance is highlighted amidst the G20 summit in Brazil, focusing on global challenges.
India is projected to be the fastest-growing G20 economy in 2024, with a 7% GDP growth rate, outpacing other major economies like Indonesia (5%), China (4.8%), and Russia (3.6%). This strong performance is highlighted amidst the G20 summit in Brazil, focusing on global challenges.
Following Donald Trump’s victory in the U.S. presidential elections, India finds itself at a crossroads. Trump’s proposed high tariffs on Chinese imports could reshape the global supply chain, potentially creating opportunities for India’s manufacturing sector. However, the potential economic fallout, including a slowdown in global trade and increased inflation, could also negatively impact India’s export economy.
India’s core industries, accounting for a significant portion of the country’s industrial output, saw a positive growth of 2% in September 2024 compared to the same month last year. This growth was fueled by an increase in production of key sectors like cement, refinery products, coal, fertilizers, and steel. The cumulative growth rate for the period April-September 2024-25 stood at 4.2%, highlighting a positive trend in the industrial sector.
Prime Minister Narendra Modi highlighted India’s economic resilience and growth trajectory at the Kautilya Economic Conclave in New Delhi, emphasizing the country’s focus on key technologies, sustained growth, and inclusive development amidst global uncertainty.
India’s wedding season is set to bring a surge in spending, with an estimated 35 lakh weddings projected between November and mid-December. This surge is fueled by increased consumer expenditure, impacting various sectors like retail, hospitality, and jewelry. The festive season further adds to the economic impact, with Diwali and Dussehra coinciding with the wedding boom.
India’s economic growth slowed to a 15-month low in the April-June quarter, while the stock market hit record highs. The merger of Vistara and Air India is set to take effect on November 12th, and Prime Minister Modi urged regulators to address cyber fraud. In other news, India’s fiscal deficit reached 17.2% of the full-year target, and Adani Ports is acquiring a majority stake in Astro Offshore.
This week’s news brings a mix of economic developments, including a new pension scheme for government employees, a potential economic slowdown, Adani Group’s debt restructuring efforts, and global interest rate adjustments. Read on for a detailed analysis of these key stories.
