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.
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.
It is curious to note that a section of the Hindu vote has seamlessly transferred between the BJP in the 2019 & 2024 Lok Sabha polls and the Left in the 2020 & 2025 local body polls.
Fears that an escalation of the conflict could heighten a fuel squeeze & endanger the economy unnerved traders, with NYT reporting Iran stopped negotiating a truce with the US.
French newspaper La Tribune earlier last week indicated that UAE withdrew from deal to fund EUR 3.5 billion. India is looking to order 114 new Rafales, which could include the F5.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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