Business
Indian economy in robust spot globally in 2025 with high frequency indicators picking up growth
New Delhi, Jan 2: As 2025 begins on a note of heightened global uncertainties ahead of the US President-elect Donald Trump’s inauguration, India continues to be in a much stronger position with high frequency indicators showing a pick up in the pace of growth in the third quarter of current fiscal (Q3 FY25), according to a report on Thursday.
GST collections, services purchasing managers’ index (PMI), air passenger growth, and vehicle registrations saw a notable improvement in Q3 versus Q2, according to a Bank of Baroda (BoB) report.
On the other hand, in China, while the manufacturing sector is expanding slowly, lifting domestic consumption and reviving the real estate sector is proving to be a task for the administration.
The US economy is giving mixed signals regarding growth. While the labour market appears to be softening and manufacturing activity is weak, retail sales, pending home sales, and the service sector seem to be doing well. In Europe, manufacturing activity is unable to pick up pace so far, while the service sector is regaining ground.
In India, the current account deficit (CAD) narrowed to 1.2 per cent of GDP in Q2 FY25 from 1.3 per cent of GDP in Q2 FY24.
“While the trade deficit was higher, buoyant services exports as well as continued strength in remittances underscored the lower CAD. Our year-end market analysis shows that both Sensex and Nifty 50 surged by 8.7 per cent and 9 per cent in CY24. Sensex touched an all-time high this year as it breached the mark of 85,500,” said Sonal Badhan, economist, Bank of Baroda.
Sectors including real estate, consumer durables, and IT were amongst the best-performing stocks in CY24. The Indian rupee depreciated by 2.8 per cent in 2024, but remained one of the better-performing currencies among its peers.
The pressure on yields was lower and boosted demand flow as the market witnessed the bond inclusion in the JP Morgan emerging market index, Bloomberg, and FTSE Russel.
According to the report, high frequency indicators have shown notable improvement in the October-December 2024 period. GST collections have jumped by 8.3 per cent (YoY) in Q3 to Rs 5.5 lakh crore, and are also up from Rs 5.3 lakh crore in Q2, signalling further improvement in consumption pattern.
Apart from this, helped by festive demand, other indicators of urban consumption have also improved. Air passenger air traffic registered 11.6 per cent growth in Q3, compared with 7.8 per cent growth registered in Q2. Services PMI averaged 59.2 in Q3 versus 58.1 in the same period last year.
“We expect quarterly corporate results to also show improved performance in Q3,” said Badhan.
On the central bank actions, the report said growth is expected to recover in H2 FY25 and inflation abating, “we see a scope of 25 bps rate cut in February 2025. We expect a cumulative easing of 50-75bps in the current cycle.”
Furthermore, with the expectation of a pick-up in government spending followed by improvement in both government and private investment in H2, the IIP growth will perform a lot better in H2 FY25 from H1 FY25, it noted.
Business
Agriculture, allied sectors likely to see 3.5-4 pc growth in 2025: Shivraj Singh Chouhan
New Delhi, Jan 4 The growth rate of the agriculture sector and allied sectors is expected to be between 3.5 per cent and 4 per cent in 2025, Union Agriculture Minister Shivraj Singh Chouhan said on Saturday.
In a review meeting of various schemes with the state/UT ministers in the national capital, Chouhan said that in the New Year with new resolutions, “we will take forward the work of agricultural development and farmer welfare at a fast pace”.
“Prime Minister Narendra Modi had said from the Red Fort last year that I will work with three times the strength in the third term. We should also resolve that we will work with our full potential,” the Union Minister said during the meeting. “Under the leadership of PM Modi, we have a six-point strategy for farmer welfare and development in the agriculture sector,” he added.
The Agriculture Ministry is working in several directions like micro-irrigation schemes, mechanisation, use of technology and new agricultural methods. “We are working on reducing the cost of production to increase income rapidly,” he said.
As part of the ‘PM Kisan Samman Nidhi’ scheme, Rs 3.46 lakh crore has been distributed to 11 crore farmers in 18 instalments to date.
“More than 25 lakh eligible farmers were added in the first 100 days of PM Modi’s third term. The number of people taking benefit of the 18th instalment increased to 9.58 crore,” Chouhan said.
The ‘PM Crop Insurance Scheme’ is the world’s largest crop insurance scheme.
“In this, loanee applications are 876 lakh and non-loanee applications are 552 lakh. A total of 14.28 crore farmers have applied, 602 lakh hectare area is insured, and the gross insured amount is Rs 2,73,049 crore,” the Agriculture Minister said.
Four crore farmers have benefited from the scheme. Since the inception of the scheme, Rs 17,000 crore has been given to farmers in the form of claims, he added.
The Union Cabinet on January 1 decided that the provision of Rs 66,000 crore in the crop insurance scheme has been increased to more than Rs 69,000 crore.
“Fertiliser subsidy like DAP will now be available at the price of Rs 1,350 per 50 kg bag and a provision of Rs 3,800 crore has been made for this,” said the minister.
Chouhan said it is also necessary to pay attention to the legalisation of crops and states are also making better efforts in this direction.
Business
Attention Mumbaikars! Don’t Miss Out On Amazing Start-Of-The-Year Deals From Top Brands; Check Out Details
Mumbai: With the arrival of the new year, it’s an opportunity for a fresh and excellent beginning to the year. If you seek home decor or routine shopping, leading brands in Mumbai offer the finest deals available for you. Explore the additional information below to grab the top deals that the brands are offering, which you won’t want to overlook.
Ongoing Best Deals Deals
The start-of-the-year sales are a steal-deal for Mumbaikars with 50%-70% off on top brands like Suvasa, Akbarallys furniture, Soch, Jimmy Choo, Superdry, Emporio Armani, Vijay Sales, Metro Wholesale, Lifestyle, Smart Bazaar and many more.
Top Deals At Lifestyle
Lifestyle, the beloved clothing brand has started the year with Sale Of The Season deals with products available at flat 50% off. Visit their website at lifestylestores.com to avail the best offers by shopping online with yout leisure. You can also visit their stores at the mall nearest to you at Oberoi Mall, WE Highway Goregaon East or Phoenix Palladium.
Top Deals At Smart Bazaar
The people favourite brand for daily needs and more, Smart Bazaar is celebrating Makar Sankranti with big saver deals. The brand is offering ‘buy1 get 1’ offer on over 1500+ products along with Smart Style Sale with affordable fashionable clothing starting at ₹299. Save big crunch over fruits and and dry fruits along with party essential cold drinks. Visit the nearest Smart Bazaar store to avail the amazing deals.
Top Deals At Soch
The go-to store for all your traditional clothings, Soch has presented Mumbaikars with their special Red Dot Sale with upto 50% off on Salwat suits, Sarees, Kurtas. Kurta Sets, Dress Materials, Tunics and Kaftans. You can also get premium scented candle for just ₹498 of worth ₹2495. Visit nearest Soch store today to avail the amazing deal.
Top Deals At Akbarallys furniture
If you are looking to exchange your old furniture and welcome new teak and solid wood furniture at your home, look no further as Akbarallys furniture have extended their exchange dhamaka offer where you have the opportunity to save up to 60% by exhanging your old furniture to a new customised furniture. You are eligible to 40% off on goods without exchange. Visit their store in Fort or Chembur to avail the amazing deal.
Top Deals At Metro Wholesale
The people favourite wholesale mart, Metro, has a new year offer promising big savings. The ‘Naya Saal Badhi Bachat’ sale buyers have amazing deals on variety of daily products to home essential products discounts ranging from 10% upto 80% off. The customers have the opportunity to get ₹100 off on minimum purchase of ₹1000. Visit the Metro store in Bhandup between 8 AM to 10 PM, Borivali and Malad stores between 7 AM to 10 PM. The offer is only applied for Mumbai stores. Offer valid till January 9, 2025.
Amazing Deals At Phoenix Palladium
Phoenix Palladium has presented end of season sale starting January 3 onwards. Avail the chance to grab 40% off on luxury brands such as Jimmy Choo, TOD’S, Canali, Coach, Superdry, Emporio Armani, Diesel, Muji, Dune London and many more.
Top Deals At IKEA
IKEA is presenting its winter sale with limited time offer upto 70%. Shop at IKEA sale and decorate your home with our elegant designs. Hurry! Get your hands on amazing deals and massive discounts on stylish furniture and decor at IKEA Winter Sale. You can visit their official website or visit IKEA store at IKEA Worli City Store or IKEA Navi Mumbai.
Top Deals At Shoppers Stop
Shoppers Stop is presenting its BIG Fab sale with a limited-time offer upto 50%. Shop at their online portal shoppersstop.com, or visit stores nearest to you. Get your hands on amazing deals such as extra ₹2500 by using ‘FABSALE’ code on your purchase. Get massive discounts on latest fashion trends and and much more at the sale.
Top Deals At Titan
One of the top watch brands has presented exclusive sale upto 60% off. Grab the deal by visiting their official website titan.co.in or visit the Titan store near you to avail the exclusive sale offers of top products.
Other Top Deals In Mumbai
Options, Baby Bell, Green Bell and Boy London are offering upto 40% off on their products. Visit their social media pages, website optionsfashion.com or store in Vile Parle West.
Business
realme partners with KRAFTON India to revolutionise Indian e-sports landscape
New Delhi, Jan 3: India’s gaming industry is experiencing remarkable growth, transforming the country into a major force in the global gaming landscape.
By 2028, the APAC region is projected to generate $181.8 billion in gaming revenue, representing 54.4 per cent of the global market. Within this region, India’s online gaming market is expected to reach Rs 66,000 crore by 2028, expanding at a compound annual growth rate of 14.5 per cent.
Several factors contribute to this growth, including India’s young demographics, with nearly 600 million people under 35 years of age. Coupled with some of the world’s most affordable mobile data prices and over 650 million smartphone users, India has cultivated a strong culture of digital entertainment consumption, particularly in gaming.
The industry’s growth is particularly evident in two key segments. The real-money gaming (RMG) market has gained significant momentum through skill-based games, while the social and casual gaming sector continues to expand its reach among young adults and working professionals.
This surge in app-based gaming reflects broader changes in entertainment preferences, driven by increasing smartphone adoption and improved internet connectivity.
To further tap into India’s burgeoning gaming market, realme has joined forces with KRAFTON India as the official smartphone partner for Battlegrounds Mobile India Series (BGIS) 2025 and Battlegrounds Mobile India Pro Series (BMPS) 2025.
Marking 2025 as its first dedicated gaming year, realme has positioned esports as a core strategic focus. This strategic collaboration comes at a pivotal time, as India is projected to reach 720 million mobile gamers by 2028. The partnership will kick off with the BGIS 2025 LAN Finals in Kolkata, featuring a substantial prize pool of Rs 2 crore, demonstrating the scale of investment in competitive gaming.
To realise this gaming-focused vision, realme has established an internal team, bringing together specialists from research and development, marketing, and product departments.
The team works closely with KRAFTON India on joint research and development and exclusive debugging initiatives, demonstrating realme’s commitment to building a robust e-sports ecosystem.
Following its “make it real” philosophy, this commitment is already evident in devices like the realme GT 7 Pro, which has been well-received in the Indian market for its strong gaming performance capabilities.
The realme GT 7 Pro will also be serving as the official smartphone for BGIS 2025.
The collaboration represents a significant step in realme’s broader vision to revolutionise the mobile gaming landscape in India.
Through strategic investments in esports infrastructure, grassroots initiatives, and technological innovation, realme aims to make premium gaming experiences more accessible while nurturing the next generation of esports athletes.
Beyond tournaments, the partnership focuses on building a comprehensive ecosystem that supports content creators and provides interactive platforms for the gaming community, leveraging realme’s expertise in high-performance smartphones and KRAFTON’s influential position in the gaming industry to create a more engaging gaming ecosystem for Indian users.
The convergence of realme’s technological expertise and KRAFTON’s gaming prowess marks an important milestone in India’s gaming journey.
As the country continues its trajectory to become a global gaming powerhouse, collaborations like these between technology and gaming leaders will play a crucial role in shaping the future of mobile gaming and e-sports in the country.
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