An average Indian spends about 6.5 hours per day on the Internet and the Internet economy will reach a size of nearly $1 trillion by 2030

5G is written in a blue circle on the Indian flag in the background of the phone

Mumbai, September 19 (Meel Bijendra) – The Indian economy received a significant boost with the acceptance of digitalization by intermediaries across the value chain (consumers, suppliers, wholesalers/distributors), supported by better internet infrastructure and connectivity. India’s digital journey holds significant potential for growth, supported by the interest of large corporates to democratize data and serve stakeholders. … Read more

India can create 3.4 million new clean energy jobs by reaching its goal of 500 GW non-fossil fuel energy sources by 2030

Power generating windmill turbines are pictured during the inauguration ceremony of the new 25 MW ReNew Power wind farm at Kalasar village in the western Indian state of Gujarat

Gujarat, September 17 (Meel Bijendra) – India ranks fourth in the world in terms of renewable energy installed capacity, including large hydro. Apart from this, it also ranks fourth in both Wind Power capacity and Solar Power capacity. India announced its ambitious targets to install 500 GW of non-fossil fuel capacity by 2030, achieve net-zero … Read more

Retail lending market expected to touch USD 1 trillion and MSME lending market to touch USD 600 billion by FY 2026

Indian 500 rupee notes lie on the cashier counter of a branch of HDFC Bank in Mumbai

Mumbai, September 15 (Meel Bijendra) – Several developments over the past few years have helped shape India’s payments landscape, be it innovation in mobile payments infrastructure, continued regulatory support, or government initiatives to increase consumer and merchant acceptance. Given the growing shift towards a cashless economy and users’ preference for transactions via smartphones, mobile payments … Read more

India’s current use of hydrogen in fertilizer manufacturing, ammonia or petroleum refining is about 6 million tonnes

Power generating windmill turbines are pictured during the inauguration ceremony of the new 25 MW ReNew Power wind farm at Kalasar village in the western Indian state of Gujarat

Mumbai, September 10 (MeelBijendra) – India set ambitious targets to achieve energy independence by 2047 and reach net zero emissions by 2070. The key to achieving these goals lies in the widespread adoption of renewable energy across all sectors of the Indian economy. Of all the options that could facilitate this energy transition, green hydrogen … Read more

India’s total urban population was the second largest in the world at 508 million in 2022; Only 36% population classified as urban: Economist

Indian 500 rupee notes lie on the cashier counter of a branch of HDFC Bank in Mumbai

Urbanization is one of the most important pillars of India’s development story. India’s total urban population at 508 million in 2022 was the second largest urban population in the world, second only to China. However, only 36% of India’s population is classified as urban, while the global average is around 57%. It is the pace … Read more

Following prominent leaders are participating in the 18th G-20 summit in India’s capital New Delhi

A model of the G20 logo is installed outside the Bharat Mandapam International Exhibition-Convention Centre (IECC), Pragati Maidan in New Delhi, India

New Delhi, September 9 (MeelBijendra) – The G20 summit is being held in the Indian capital New Delhi on 9 and 10 September 2023 and India is hosting its 18th meeting. It is the first G20 summit held in South Asia and is being held at the Bharat Mandapam International Exhibition-Convention Center (IECC), Pragati Maidan, … Read more

India successfully attempted to land LVM3-M4/Chandrayaan-3 on the Moon’s South Pole on 23 August 2023 at 6:03 pm IST

India's LVM3-M4 lifts off carrying the Chandrayaan-3 lander from the Satish Dhawan Space Centre at Sriharikota, India, July 14, 2023

BENGALURU, Aug 23 (MeelBijendra) – On Wednesday, 23 August 2023, at 6:03 pm IST, India successfully attempted LVM3-M4/Chandrayaan-3 to land on the Moon and is considered significant for its exploration of the Moon and establishing the country as a space power. The Indian Space Research Organization (ISRO) launched the spacecraft Chandrayaan-3 on 14 July 2023 … Read more

Economists say India’s real GDP growth rate to be around 9.4% per annum by FY27 and world’s third largest economy by 2030

Indian 500 rupee notes lie on the cashier counter of a branch of HDFC Bank in Mumbai

India is the fifth largest economy in the world with a gross domestic product (GDP) of about US$3.5 trillion in 2022, despite a period of sustained economic growth interrupted by the COVID-19 pandemic. The largest country in the Indian subcontinent located in South Asia, India’s GDP declined by 7.3% in 2020 due to the stringent … Read more

RBI to withdraw ₹2000 banknotes from circulation; Notes to be exchanged in banks from May 23

INR 2000 notes

On 19 May 2023, the Reserve Bank of India (RBI) announced that the ₹2000 banknote has now been withdrawn from circulation. The ₹2000 banknote was introduced after the Narendra Modi-led government demonetised the ₹500 and ₹1000 denomination banknotes on 8 November 2016. The ₹2000 banknote was introduced under Section 24(1) of the Reserve Bank of … Read more

India’s retail market size expected to reach ₹91 trillion by 2025; fashion footwear to contribute over 25%: Economists

Indian rupee notes

India is becoming a favorable market for fashion retailers. Factors like increase in income levels, improvement in consumer behavior, increase in demand from Tier 3, Tier 4 cities and rural markets, increase in youth spending led to growth in the Indian footwear industry. India’s retail market size was ₹55 trillion in 2020, growing at a … Read more

India expects FDI of $100 billion in the current fiscal after $83.6 billion in FY21-22: Govt

Indian rupee notes

India’s domestic economic recovery in FY 2021-22 boosted import demand while India’s external sector remained resilient and safe-haven demand for gold expanded the trade deficit from October 2021 to March 2022 time period. But strong capital inflows, dominated by strong exports and foreign direct investment (FDI), eased the pressure on the current account balance. In … Read more

India gifts Dornier aircraft to Sri Lanka during a ceremony in Colombo

Indian Dornier aircraft flying in the sky during training

On Monday 15 August 2022, India gifted a Dornier-228 aircraft to strengthen Sri Lanka‘s maritime security. The Indian Air Force and Indian officials handed over the Dornier-228 Maritime Surveillance Reconnaissance Aircraft to the Sri Lankan Air Force base at Katunayake during a ceremony. Katunayake is a suburb of the city of Negombo in Sri Lanka, … Read more

RBI Monetary Policy: RBI hikes repo rate to 4.90%, inflation at 6.7, GDP growth forecast at 7.2% in FY23

RBI Monetary Policy: Document with Financial Data

RBI Monetary Policy: On Wednesday, 8 June 2022, the Reserve Bank of India (RBI) increased the repo rate by 50 basis points to 4.90% and this is the second time in five weeks the repo rate has been increased by 50 basis points. Whereas the Monetary Policy Committee (MPC) had hiked the repo rate by … Read more

FIIs sell-off 275000 crores in Indian market in 5 months, pulled out more than they brought in 12 years

Stock Price: FIIs sell-off 275000 crores in Indian market in 5 months

The global market has been falling steadily since the beginning of January 2022. In the last one month, Nifty50 has fallen about 12.7% while in the last one week also Nifty50 has fallen about 5.9%. Nifty is currently trading at 15735.45, down 15% from its all-time high. Due to rising inflation and a weakening rupee, … Read more

Market slips amid rate hikes by central banks RBI, BoE, Fed

Stock Price: Market slips amid rate hikes by central banks RBI, BoE, Fed

Almost all major markets are down since the beginning of 2022. US Fed, Bank of England, and RBI (Reserve Bank of India) have already started rate hikes and the market is expecting that the rates will be hiked further. Due to this the Indian market is also in a downward trend as high inflation is … Read more

Indonesia bans palm oil exports, food prices and cooking oil prices rise

Cooking Oil Bottle: Indonesia bans palm oil exports, food prices and cooking oil prices rise

On Friday 22 April 2022, Indonesia announced a ban on palm oil exports until further notice. Indonesia accounts for about one-third of all vegetable oil exports and Indonesia is the world’s second-largest palm oil exporter and on the other hand, India is the world’s largest palm oil importer. India is the world’s largest importer of … Read more

Sri Lanka economic crisis explained: what and why Sri Lanka’s economy faced economic crisis

Sri Lanka economic crisis explained: what and why Sri Lanka's economy faced economic crisis

Sri Lanka is going through a major economic crisis like 10-hour long power cuts or food shortages, besides people facing a shortage of petrol and diesel. The economy of Sri Lanka is dependent on imported goods even for basic products. According to the report, people have been facing power cuts of 10 hours and in … Read more

RBI Monetary Policy: Repo rate unchanged at 4%, GDP growth forecast at 7.2% in FY23

RBI Monetary Policy: Document with Financial Data

The Reserve Bank of India (RBI) on Friday 8th April 2022, for the 11th consecutive time, the Monetary Policy Committee (MPC) kept the lending rate or repo rate unchanged at 4% while the reverse repo rate has also been kept unchanged at 3.35%. This is the first meeting of the Monetary Policy Committee (MPC) of … Read more