For India, IMF has maintained its growth estimate at 7% for 2024-25, followed by 6.5 per cent next year. Slowdown from 8.2% growth in 2023 is attributed to exhaustion of pent-up demand.
The S&P 500 closed in negative territory, and megacap momentum stocks dragged the tech-heavy Nasdaq down more than 1%, while defensive stocks helped keep the Dow modestly green.
By David Lawder and Xinghui Kok SINGAPORE/WASHINGTON (Reuters) - The International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the
Indian industries like apparel and gems and jewellery — whose top export destination is the US — set to take a hit due to global downturn. All eyes on US Fed's meeting Wednesday.
The possibility of a de facto EU embargo on Russian gas and threat of some curbs on crude in Europe’s next sanctions package bolstered both commodities.
Next 3 months stand to reveal the underlying economic pain more vividly than past 3 months as massive fiscal assistance from govts is soon going to fade.
The recession this time isn’t driven by inherent weakness in economies or factors like oil shocks. It’s also synchronous. This could quicken India’s recovery.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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