Oil, Trade, Growth
India continues importing 2 million BPD of Russian oil in August, demonstrating its strategic economic balancing act. Simultaneously, exports to the US
are rising, with imports also up. The nation aims for self-sufficiency in critical minerals and anticipates substantial growth, boosting exports further. This reflects the country's multifaceted approach to economic development, balancing global trade and domestic priorities.
Financial & Infrastructure
The S&P upgraded India's rating, signaling economic health. Several financial firms also saw upgrades. In addition, there were multiple approvals for industrial projects worth billions of rupees. Mumbai and Delhi are witnessing infrastructure expansions, while BSNL and AI Express are improving connectivity. This reflects the growing confidence in India's economic future.
Policy & Reforms
PM Modi's administration is focused on several key areas. Tax reforms propose income up to ₹12 lakh tax-free, with GST rate cuts anticipated by Diwali. Furthermore, there's a push for local production, with efforts to boost fertiliser production and cut imports. Schemes like the PM Viksit Bharat Rozgar Yojana aim to create 3.5 crore jobs, boosting economic activity across the country.
Tech & Innovation
India is also embracing technological advancements. The launch of a Made-in-India semiconductor chip is expected by year-end. The IIT Delhi is working on AI bridge and road designs in Bihar. The launch of Google Flights AI search tools shows India's growth in these areas. Moreover, UPI accounts for 50% of real-time transactions, highlighting the country's digital strides.
Business & Markets
The business landscape is evolving with companies like Zaggle Prepaid Ocean seeing profit jumps. Mahindra is opening new vehicle plants and eyeing global markets. Various IPOs are in the works, and the focus remains on promoting quality products at reasonable prices. All-Time Plastics shares debuted 3% higher. These factors reflect a dynamic and growing Indian market.
