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Companies, banks bet Indian rupee's recovery has more legs Corporates who trade in forex markets and proprietary desks of banks are wagering that the Indian rupee will appreciate further against the U.S. dollar, helped by a narrowing current account deficit and better "carry" returns, several bankers and analysts told Reuters. The rupee reached 81.78 to the U.S. dollar on Monday, its highest in about a month and up about a percent since the beginning of March. It was last at 82 to the dollar. The rupee is on a three week winning run, ...
Companies, banks bet Indian rupee's recovery has more legs
Companies, banks bet Indian rupee's recovery has more legs
Source: Reuters
11/04/2023 3:41:00 PM
India`s foreign direct investment flows to see modest pick-up in FY24  India's foreign direct investment (FDI) flows may pick up only modestly in fiscal 2024 after a fall seen in the first 10 months of fiscal 2023, economists at Citi said in a note on Tuesday. Citi expects net FDI flows – which include both outflows and inflows – to be at $35 billion in fiscal 2024. This is on the back of manufacturing FDI likely seeing some traction from government schemes and "the build-up of ecosystem around recent large greenfield investments...
India`s foreign direct investment flows to see modest pick-up in FY24
India`s foreign direct investment flows to see modest pick-up in FY24
Source: Reuters
11/04/2023 12:13:22 PM
Crisil projects India`s GDP growth at 6% for FY24 Rating agency Crisil in its annual growth forecast has projected India’s gross domestic product (GDP) growth at 6% in the next fiscal year (FY24), in line with consensus estimates, driven by an increased capex by the private sector. It added that the private sector capex is expected to deliver double-digit revenue growth for the second year on the trot. Besides, the economy is projected to grow 7 per cent this fiscal (FY23). The agency also sees the economy averaging 6.8 per cent growth...
Crisil projects India`s GDP growth at 6% for FY24
Crisil projects India`s GDP growth at 6% for FY24
Source: Accord Fintech
17/03/2023 10:24:12 AM
India`s GDP to grow at 6% in FY24: CRISIL Terming the global environment as gloomier, credit rating agency CRISIL Ltd on Thursday forecast India's gross domestic product (GDP) growth at 6 per cent for FY24 down from 7 per cent estimated by the National Statistical Organisation (NSO) for FY23. "A complex interplay of geo-political events, stubbornly high inflation, and sharp rate hikes to counter that, have turned the global environment gloomier," CRISIL said. On the domestic front, the peak impact of the rate hike...
India`s GDP to grow at 6% in FY24: CRISIL
India`s GDP to grow at 6% in FY24: CRISIL
Source: IANS
16/03/2023 1:45:01 PM
India to be $3.7 trillion economy in 2023: RBI article Highlighting that the macro-economic stability is getting entrenched, a Reserve Bank of India (RBI) article stated that India will be a $3.7 trillion economy in 2023, maintaining its lead over the UK as the fifth largest economy of the world. The article titled ‘State of the Economy’ published in the January bulletin of the RBI said recent data arrivals indicate that the first milestone of monetary policy is being passed – bringing inflation into the tolerance band. The arti...
India to be $3.7 trillion economy in 2023: RBI article
India to be $3.7 trillion economy in 2023: RBI article
Source: Accord Fintech
20/01/2023 10:22:47 AM
A slowing global economy resulted in weaker exports Says Veer Trivedi, Samco Securities Below is views on Current Account Deficit By Mr. Veer Trivedi, Research Analyst, Samco Securities “The Current account deficit witnessed a two-fold jump from 2.2% to 4.4% is mainly on account of a high merchandise trade deficit and an increase in net outgo under investment income. If we look holistically, the government has been able to handle the finances well despite the pandemic and commodity inflation shocks. A robust tax collection and a cooling off in commodity prices have aide...
A slowing global economy resulted in weaker exports Says Veer Trivedi, Samco Securities
A slowing global economy resulted in weaker exports Says Veer Trivedi, Samco Securities
Source: Samco Securities Ltd
30/12/2022 11:22:29 AM
India`s current account gap widens to 9-year high India's current account deficit widened in the July-September quarter as high commodity prices and a weak rupee increased the country's trade gap, data from the Reserve Bank of India (RBI) showed on Thursday. In absolute terms, the current account deficit (CAD) was $36.40 billion in the second quarter of fiscal year 2022/23, its highest in more than a decade. As a percentage of GDP, it was 4.4%, its highest since the June quarter of 2013. The CAD was $18.2 billion, or 2.2% of GD...
India`s current account gap widens to 9-year high
India`s current account gap widens to 9-year high
Source: Reuters
30/12/2022 9:09:31 AM
India's growth expected to slow in 2023-24 on the back of sharp global slowdown India's GDP growth is on course to print close to 7 per cent this year in 2022-23, foreign brokerage, JP Morgan said in a report. While buoyant, it would still leave output about 7 per cent below its pre-pandemic potential trend, reflective of impact of the pandemic and adverse terms of trade shock from higher commodity prices in 2022. Growth is expected to slow in 2023-24, on the back of a sharp global slowdown, which is weighing on exports, and the progressive fiscal and monetary ...
India's growth expected to slow in 2023-24 on the back of sharp global slowdown
India's growth expected to slow in 2023-24 on the back of sharp global slowdown
Source: IANS
16/12/2022 12:54:13 PM
Current account deficit likely to come at 3% for this fiscal: SBI report Citing rising software exports, remittances and a likely USD 5-billion jump in forex reserves via swap deals, State Bank of India (SBI) in its latest report has said that the Current Account Deficit (CAD) may be come at 3 per cent for this fiscal as against the minimum consensus of 3.5 per cent. Soumyakanti Ghosh, the chief economic advisor at SBI in report stated that every USD 10 increase in crude prices impacts the CAD to the tune of 40 basis points while the same on fuel inflation is 50 b...
Current account deficit likely to come at 3% for this fiscal: SBI report
Current account deficit likely to come at 3% for this fiscal: SBI report
Source: Accord Fintech
11/11/2022 11:04:17 AM
For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor India's software export revenue and remittances act as a strong counter cyclical buffer against increase in current account deficit (CAD) due to hike in global oil prices and rupee depreciation, said the State Bank of India's (SBI) Chief Economic Adviser. In a research report Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, said for every rupee depreciation, software exports increase by $250 million. Ghosh said contrary to the expectations, the Q1FY23 Balance of Paymen...
For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor
For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor
Source: IANS
10/11/2022 11:58:11 AM
Rising food, crude prices coupled with weak rupee fuel inflation in India Inflation in India has been on the rise consistently for the past several months and various reasons can be attributed to it such as soaring food and oil prices, among others. However, most importantly, the sharply depreciating rupee against the dollar is one of the most significant reasons behind it. India's retail inflation rose to 7 per cent in August from 6.71 per cent in July and this was due to higher food prices. In fact, retail inflation has been beyond the Reserve Bank of I...
Rising food, crude prices coupled with weak rupee fuel inflation in India
Rising food, crude prices coupled with weak rupee fuel inflation in India
Source: IANS
8/10/2022 12:29:11 PM
The Economy Observer- India`s Quarterly Economic Outlook : 3QCY22 By Motilal Oswal Financial Services Current account deficit (CAD) could widen to 5.5% of GDP in 2QFY23 * The continuation of hostilities between Russia and Ukraine has led to an entrenched episode of higher inflation across the globe. However, commodity prices have come off sharply from their peaks with renewed concerns on global growth, led by strong monetary tightening that is likely to continue at least until Dec’22. At this juncture, India seems isolated from the high inflation-slow growth challenges. Nevertheless,...
The Economy Observer- India`s Quarterly Economic Outlook : 3QCY22 By Motilal Oswal Financial Services
The Economy Observer- India`s Quarterly Economic Outlook : 3QCY22 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
17/09/2022 9:33:28 AM
Current account deficit likely to grow, pushing up inflation, straining forex reserves As economists have predicted that India's current account deficit (CAD) is likely to reach the level of 3 per cent of the GDP in the current financial year and is unlikely to come down in the near future, the government seems to be cautiously optimistic about reining it within tolerable standards. Experts though feel that it would be a tough task as current account deficit may further go up to more than 3 per cent of the GDP in the current financial year. Government, on its part, fe...
Current account deficit likely to grow, pushing up inflation, straining forex reserves
Current account deficit likely to grow, pushing up inflation, straining forex reserves
Source: IANS
10/09/2022 12:59:55 PM
Margins of domestic primary aluminium companies likely to shrink by 400-500 in Q2FY22: ICRA Owing to a twin onslaught of correction in aluminium prices and elevated input costs, rating agency Icra has said operating margins of the domestic primary aluminium companies are likely to shrink by 400-500 bps sequentially in the second quarter of 2022-23 (Q2FY23). It mentioned international prices of aluminium have corrected by around 38 per cent from the record high of around 3900/tonne US dollar in March. While in the first quarter of FY23 the average LME aluminium spot prices re...
Margins of domestic primary aluminium companies likely to shrink by 400-500 in Q2FY22: ICRA
Margins of domestic primary aluminium companies likely to shrink by 400-500 in Q2FY22: ICRA
Source: Accord Fintech
9/09/2022 11:05:05 AM
Standard Chartered raises India's current account deficit estimate for FY23 Standard Chartered on Wednesday raised its estimate of India's current account deficit (CAD) as a share of the gross domestic product for 2023, citing higher commodity prices and chances of an export slowdown. The British bank raised its CAD forecast for fiscal year ending March 2023 to 3.8% of India's GDP from its earlier estimate of 3.0%--higher than the assessments of peers Morgan Stanley, Goldman Sachs and Nomura. India's CAD came in at 1.2% of the GDP last year. A sl...
Standard Chartered raises India's current account deficit estimate for FY23
Standard Chartered raises India's current account deficit estimate for FY23
Source: Reuters
7/09/2022 2:08:02 PM
India's CAD to widen to 5% in Q2FY23: Icra Domestic ratings agency Icra in its note has said that India's current account deficit (CAD) will widen to 5 per cent of the Gross domestic product (GDP) in the September quarter of current fiscal (Q2FY23) due to higher merchandise trade deficit. The trade deficit has doubled to USD 28.7 billion for August due to a 36.8 per cent expansion in imports and a 1.2 per cent decline in export earnings. It mentioned ‘The current account deficit (CAD) is projected to widen to an all-time ...
India's CAD to widen to 5% in Q2FY23: Icra
India's CAD to widen to 5% in Q2FY23: Icra
Source: Accord Fintech
7/09/2022 10:45:39 AM
Nomura raises India's current account deficit estimate on fears of export slowdown Research house Nomura expects India's current account deficit (CAD) as a share of the gross domestic product to triple this fiscal year, saying that a global economic slowdown will further skew the country's trade imbalances. In a note dated Sept. 5, the research house said it now expects India's CAD to rise to 3.5% of GDP in the current fiscal year from 1.2% last year. It had previously forecast the share to be 3.3% of GDP. Further, the slight decline in India's trade d...
Nomura raises India's current account deficit estimate on fears of export slowdown
Nomura raises India's current account deficit estimate on fears of export slowdown
Source: Reuters
6/09/2022 12:09:22 PM
India witness CAD of 1.2% of GDP in FY22 due to wider trade deficit: RBI The Reserve Bank of India (RBI) in its latest report has showed that India witnessed a current account deficit (CAD) of 1.2 per cent of Gross Domestic Product (GDP) in fiscal year 2021-22 (FY22) against a surplus of 0.9 per cent in FY2020-21 due to a wider trade deficit. Current account deficit occurs when the value of goods and services imported and other payments exceeds the value of export of goods and services and other receipts by a country in a particular period. The central bank sai...
India witness CAD of 1.2% of GDP in FY22 due to wider trade deficit: RBI
India witness CAD of 1.2% of GDP in FY22 due to wider trade deficit: RBI
Source: Accord Fintech
23/06/2022 9:50:11 AM
India’s current account deficit likely to hit three-year high at $43.81 billion in FY22: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that the country's current account deficit is likely to hit a three-year high of 1.8 per cent or $43.81 billion in FY22, as against a surplus of 0.9 per cent or $23.91 billion in FY21. According to an assessment by India Ratings, the Current Account Deficit (CAD) has moderated to $17.3 billion or 1.96 per cent of GDP in the fourth quarter of FY22 as against $8.2 billion or 1.03 per cent in the year-ago period, and massively...
India’s current account deficit likely to hit three-year high at $43.81 billion in FY22: Ind-Ra
India’s current account deficit likely to hit three-year high at $43.81 billion in FY22: Ind-Ra
Source: Accord Fintech
10/06/2022 12:14:18 PM
High commodity prices continue to weigh on trade deficit, estimate for FY23 at $90bn: Acuite The expectation of the expansion of the current account deficit is not just driven by elevated global commodity prices, but is also linked to the unlocking of the economy reviving pent-up demand and improved vaccination cover aiding an organic recovery in the economy, ratings and research firm Acuite Ratings & Research said in a report. Nevertheless, there is considerable uncertainty in projecting trade and current account deficit due to high volatility in commodity prices, which in th...
High commodity prices continue to weigh on trade deficit, estimate for FY23 at $90bn: Acuite
High commodity prices continue to weigh on trade deficit, estimate for FY23 at $90bn: Acuite
Source: IANS
6/06/2022 1:08:54 PM
Alert: India's Q3FY21 current account deficit at $1.7 billion Mumbai, March 31 India's current account deficit stood at $1.7 billion in Q3FY21 from a surplus of $15.1 billion reported for the second quarter of the current fiscal. On a YoY basis, the country's Balance of Payment status was in a deficit of $2.6 billion during Q2FY20. "Underlying the current account deficit in Q3:2020-21 was a rise in the merchandise trade deficit to US$34.5 billion from US$14.8 billion in the preceding quarter, and an increase in net investment income p...
Alert: India's Q3FY21 current account deficit at $1.7 billion
Alert: India's Q3FY21 current account deficit at $1.7 billion
Source: (IANS) 
31/03/2021 10:04:08 PM