India’s economy is poised for its biggest annual contraction in records dating back to 1952, as the rapid spread of coronavirus cases and measures to contain them hurt businesses and households. Gross domestic product will contract 7.7% in the financial year ending March 2021, the statistics ministry said in its …
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NEW DELHI: India will be hit hardest among the world’s major economies even after the pandemic subsides, with production 12% below pre-virus levels in the middle of the decade, according to Oxford Economics. The balance sheet stress that had been building up before the coronavirus outbreak is likely to worsen, …
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NEW DELHI: Finance Minister Nirmala Sitharaman on Tuesday it said there were visible signs of recovery, but India gross domestic product (GDP) could be in negative zone or close to zero in the current fiscal year in the wake of the ongoing coronavirus pandemic. Speaking at CERAWeek’s India Energy Forum, …
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Reliance has announced investments worth more than $ 25 billion from foreign investors in recent months Billionaire Mukesh Ambani, president of Reliance Industries Ltd., said that India must redefine its manufacturing sector to fuel growth. “There is a need to rethink and redefine manufacturing in India. We need to strengthen …
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