Mumbai, Dec 17: Indian equity markets touched fresh all-time highs in November and clearly outperformed global markets, a new report said on Wednesday.

The data compiled by PL Asset Management said India emerged as a bright spot at a time when many global markets struggled due to weak technology stocks, fading enthusiasm around artificial intelligence and soft economic data from China.

The report noted that record-low inflation, steady domestic growth and reasonable valuations improved the overall outlook for investors.

“While global markets remained uneven, India benefited from strong local demand, supportive liquidity and a predictable policy environment,” the report said.

Inflation played a major role in boosting market sentiment during the month. Consumer price inflation fell sharply to just 0.25 per cent, the lowest level on record and far below the Reserve Bank of India’s target of 4 per cent.

This sharp fall strengthened expectations of further interest rate cuts, which supported equity valuations. Reflecting confidence in the economy, the RBI raised its GDP growth forecast for FY26 to 7.3 per cent.

India also recorded strong GDP growth of 8.2 per cent in the second quarter of FY26, reinforcing its position as the fastest-growing major economy in the world, the report said.

Domestic economic indicators remained healthy despite global challenges. Manufacturing activity stayed strong, even though exports were slightly affected by tariffs.

Goods and Services Tax collections remained robust at Rs 1.70 lakh crore, as per the report.

Festive season spending also supported growth. In addition, India’s current account deficit improved to 1.3 per cent of GDP.

Global markets, meanwhile, showed signs of fatigue. US technology stocks faced profit booking, China and Hong Kong markets weakened due to poor economic data, and investors turned to precious metals for safety.

Crude oil prices softened amid expectations of interest rate cuts by the US Federal Reserve. Against this global backdrop, India’s stable fundamentals helped it continue to outperform.

Siddharth Vora, Head – Quant Investment Strategies & Fund Manager, PL Asset Management, said, “Indian markets continue to demonstrate relative resilience at a time when global risk assets are undergoing a phase of recalibration.”

New Delhi, Dec 15: The government on Monday said it has released Rs 260.20 crore to rural local bodies in Kerala as part of the 15th Finance Commission grants for the financial year 2025-26.

The amount represents the first instalment of untied grants and covers all 14 district panchayats, 152 block panchayats and 9,414 gram panchayats (GPs) in the state, according to an official statement.

Untied grants are meant to be utilised by rural local bodies/PRIs for location-specific felt needs under the 29 subjects listed in the Eleventh Schedule of the Constitution, except for salaries and other establishment expenditures.

Tied Grants, on the other hand, are earmarked for basic services relating to sanitation and maintenance of ODF (open defecation-free) status, including management and treatment of household waste, human excreta and faecal sludge, and supply of drinking water, rainwater harvesting, and water recycling.

Last week, the government released Rs 717.17 crore to strengthen rural local bodies in Maharashtra as part of the first instalment of untied grants for the financial year 2025-26. The funds were released to duly elected and eligible rural local bodies in the state, covering two district panchayats (Zilla Parishads), 15 block panchayats (panchayat samitis), and 26,544 gram panchayats.

The government, through the Ministry of Panchayati Raj and the Ministry of Jal Shakti (Department of Drinking Water and Sanitation), recommends release of 15th Finance Commission grants to states for Panchayati Raj Institutions, which are then released by the Ministry of Finance.

The allocated grants are recommended and released in two instalments in a financial year.

Earlier in November this year, the Centre released over Rs 223 crore for rural local bodies in Assam and another Rs 444.38 crore to strengthen panchayat bodies in Odisha as part of the 15th Finance Commission grants.

New Delhi, Dec 15: As Prime Minister Narendra Modi embarked on a three-nation visit to Jordan, Ethiopia and Oman on Monday, bolstering economic and trade ties is among the key agenda items of his visit.

PM Modi’s visit is expected to open far-reaching opportunities to enhance the country’s economic footprint across West Asia and Africa.

Last week, the Union Cabinet, chaired by the Prime Minister, approved the proposed Free Trade Agreement (FTA) between India and Oman, aimed at deepening trade and investment relations between the two countries.

The approval also came after Oman’s Shura Council approved the Gulf nation’s proposed FTA with India. The talks for the trade agreement, officially termed the Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023.

India and Oman share a long-standing and multidimensional Strategic Partnership supported by strong trade ties, energy cooperation and cultural linkages. The economic and commercial relations between India and Oman are robust and buoyant.

The bilateral trade between the two nations reached $8.947 billion during FY 2023-2024, and for FY 2024-25, it stood at $10.613 billion, according to an official statement. Bilateral investment flows have also been strong, as reflected in numerous joint ventures established both in India and Oman.

Moreover, there are over 6,000 India-Oman joint ventures present in Oman, estimated to be adding $7.5 billion to Oman’s economy in the form of total capital investment over a long period.

PM Modi will hold high-level talks with the Sultan of Oman in Muscat and discuss strengthening the Strategic Partnership as well as the strong commercial and economic relationship between the two nations.

Notably, India is Jordan’s third-largest partner, with bilateral trade at around $2.8 billion. Jordan is a key supplier of fertilisers to India, particularly phosphates and potash.

Although the size of India-Ethiopia bilateral trade was around $550 million in FY25, India was the second largest trading partner for the African nation. India’s key exports include primary and semi-finished iron and steel products, drugs and pharmaceuticals, fertilisers and machinery, among others.