Global Scans · India · Weekly Summary

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WHAT'S NEXT?: India's ambitions, particularly in technology and economic growth targets promise much from this populous country determined to be a world leader.

• [New] In China and India, we expect investment to contribute disproportionately to growth-much of it public, especially in India. Eurasia Review
• [New] The International Monetary Fund (IMF) has raised India's growth forecast for 2024-25 to 6.8% from 6.5% on the back of strong domestic demand and a rising working-age population. Yahoo Finance
• [New] Revised Forecast: The Asian Development Bank (ADB) now anticipates India's GDP growth to reach 7% in FY 2024 and 7.2% in FY 2025, up from the previous estimate of 6.7% for FY 2024. Blog
• [New] China's economy, the second-largest in the world, is forecast to grow 4.6%, while India is expected to notch growth of 6.8%. CNN
• [New] The combined technological might of India, South Korea, and the United States might encourage the development of innovation hubs, increase exports, and improve investments. The Diplomat
• [New] The strongest growth in copper demand is expected in India, with a CAGR of 7%, followed by Southeast Asian countries, with an anticipated CAGR of 6%. Engineering News
• [New] The peaceful accommodation of India will alter the historical patterns of rise and fall of great powers through war. Oxford University Press
• [New] India is expected to remain a major growth engine in Asia and the Pacific, with a 7.0% expansion this year and 7.2% next year. Asian Development Bank
• [New] Concerns linger regarding the sustainability of growth amidst global risks and structural issues within the Indian economy. BYJU'S
• [New] The Reserve Bank of India has projected average inflation to ease to 4.5% in 2024, but the ongoing quarter may see an average inflation of 4.9%, indicating continued volatility in prices. BYJU'S
• [New] Land for manufacturing activities is estimated to generate a value of $28 billion, driven by rising demand in India, while warehousing is projected to yield revenues of $8.9 billion. BizzBuzz
• [New] Economic security issues, such as the diversification of supply chains or the risks of economic coercion, clearly bring Europe and India closer. The Diplomat
• [New] India's current account deficit will widen moderately to 1.7% of GDP on rising imports for meeting domestic demand. Daily Pioneer
• [New] India's robust growth will be deiven by the demand for public and private sector investment and the gradual improvement in consumer demand. CNBCTV18
• [New] Hotel industry in India is expected to clock in double-digit RevPAR growth, in the range of 12-15 per cent, in the fourth quarter of FY24. FinancialExpress
• With the introduction of the PPT test in the India-Mauritius tax treaty, tax authorities in India are expected to scrutinize transactions more closely. Mint
• Germany will remain among the world's top ten steel-consuming regions together with China, India, United States, South Korea, Japan, Russia, Turkey, Mexico and Brazil. EUROMETAL
• The ADB's growth forecast for the 2024-25 fiscal year is in line with the projections made by the Reserve Bank of India. Mint
• India is well on its way to meet the 500 GW of renewable energy capacity and the climate commitment made in the Paris conference by 2030. Newsweek
• In air cargo, Red Sea-driven disruptions to ocean freight are still pushing some volumes to the air out of India, though demand is easing somewhat. Freightos
• There are elections to navigate first - in the US, India, and South Korea - that could introduce new uncertainty. Founders Forum Group
• Some economists predict that by 2050, Brazil, India, Indonesia, and Mexico will be among the seven largest economies in the world. Carnegie Endowment for International Peace

Last updated: 21 April 2024