Job Market Boom
E-commerce has created approximately 3.8 lakh jobs, signaling a vibrant festive season. Myntra alone plans to add 11,000 jobs for their Big Fashion Festival.
This highlights the sector's robust growth and the increasing demand for skilled professionals. This surge is a testament to India's consumer market and its growing digital footprint.
Market & Investment
Reliance Industries shares saw a drop after their AGM. Simultaneously, the stock market experienced a decline, leading to a loss of approximately Rs 11.21 lakh crore. However, there's also news of Reliance Jio's IPO, potentially the largest in Indian history, showcasing the dynamic nature of the market.
Policy & Reforms
The fiscal deficit reached 29.9% of the target, according to CGA data. GST reforms are being discussed, with Punjab seeking compensation. The government is also focusing on green growth and low-carbon pathways, with initiatives such as the India-Japan joint efforts for GHG emission cuts, reflecting a commitment to sustainable development.
International Relations
India is strengthening ties with Japan, with a focus on the Mumbai-Ahmedabad rail project and a mineral pact to diversify supply chains. Trade talks with the US are underway, focusing on agreements and tariffs. These partnerships are crucial for economic growth and global positioning. Furthermore, Kerala to host the EU Blue Economy Conclave, highlighting the importance of sustainable development.
Future Outlook
The NITI Aayog is focused on a low-carbon path for India's green growth. Furthermore, Scindia emphasizes the need for innovation and not imitation. Reliance plans Rs 1 lakh crore in revenue for FMCG in 5 years. Nageswaran discusses the Indian economy's growth, and how it can be affected by US tariffs, painting a picture of India's economic future.
