The ‘summer of 2024’ began with sporting excitement but ended with global market volatility, fueled by unexpected policy shifts from central banks like the Bank of Japan and the US Federal Reserve. This article analyzes the impact of these events on India’s bond market, highlighting the government’s fiscal outlook, the Reserve Bank of India’s (RBI) policy stance, and potential investment opportunities in fixed-income products.
India’s Finance Secretary Ajay Seth discusses the country’s plans to develop a climate finance taxonomy, improve its sovereign credit rating, recalibrate the infrastructure financing framework, and simplify overseas investment routes for foreign investors. The interview sheds light on the government’s approach to addressing climate change, bolstering the economy, and attracting foreign investment.
This week’s data highlights a shrinking informal job market in India, growing trade ties with Russia, surging mutual fund investments, and the potential for a GST cut to boost consumption. Plus, the food services sector is booming, and streaming platforms are embracing ads.
India’s combined output from manufacturing and services sectors has grown at a rapid pace in April, according to the HSBC Flash Purchasing Managers’ Index (PMI). The services sector activity reached a three-month high, while international sales boosted new order inflows for both manufacturing and services companies.
