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India's 64 million MSMEs, employing 110 million people and contributing 27 per cent to the country's GDP, face growth hurdles due to inadequate access to timely and affordable finance
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Rural demand has shown improvement as reflected in the rising fast-moving consumer goods (FMCG) volume sales and an increase in three-wheeler and tractor sales
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While rural demand has shown resilience in the first half of the fiscal year, urban demand appears to have moderated slightly due to softer consumer sentiments, less footfall caused by unusually heavy rainfall, and seasonal periods where purchases are typically restrained
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The brokerage has adjusted its own growth forecast down to 6.7 per cent for the ongoing FY25 and projects a slight increase to 6.8 per cent for FY26, signaling a tempered outlook on India’s growth prospects
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As the country’s retail and wholesale inflation marked a rise in September, the rising food inflation continues to haunt the apex bank
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The gross domestic product (GDP) growth forecast for the financial year 25-26 has also been retained at 6.9 per cent for India by S&P Global Ratings
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The data highlights that India took 63 years, from 1947 to 2010, to reach a gross domestic product of USD one trillion
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Indian economy is expected to grow at an even higher rate of 8.2 per cent in FY2024, as per S&P report
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The report mentions that the continued reforms are crucial to improving business transactions and logistics, boosting private sector investment, and reducing reliance on public capital
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Earlier, Citigroup report reveals that India “will struggle to create sufficient employment opportunities” even with a 7 per cent economic growth rate
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