India's growth prospects to be impacted adversely over risk of prolongedrecession due to trade wars: RBI
The Reserve Bank of India's Dr Nagesh Kumar in the minutes for Monitory Policy Committee Meeting from April 7 to 9 flagged serious concerns over the ongoing trade wars, saying India's growth prospects will be affected adversely.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
You Won't Believe What These Celebrities Studied in College
celebapex.com
Learn More
Undo
"There is a serious risk of the world economy getting into a prolonged recession because of the trade wars and protectionism, which would also affect India's growth prospects adversely. The WTO has already warned about the negative outlook for world trade. The
global GDP growth projections
for the current year are likely to be revised downwards in the aftermath of the reciprocal tariff and the trade war," said Dr Nagesh Kumar in the MPC minutes released on Wednesday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
India's private sector: PMI surges to a 14-month high of 61.0; strong demand lifted activity in June
India's private sector activity showed strong momentum in June, reaching its fastest pace in over a year, as firms ramped up production to meet booming domestic and international demand. These figures marked nearly four straight years of growth, fresh survey data released on Monday. The HSBC Flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, jumped to a 14-month high of 61.0 from May's 59.3. Both manufacturing and services saw strong gains. The services activity index rose to 60.7 from 58.8, its strongest reading since August 2023, while the manufacturing PMI climbed to 58.4 from 57.6, driven by strong output and a spike in new orders. 'New export orders continued to fuel private sector business activity, especially in manufacturing,' Pranjul Bhandari, chief India economist at HSBC, told Reuters. Export demand was a standout, with new international business growing at the fastest pace since the survey began tracking such data in September 2014. Manufacturers led this surge, outpacing the more moderate growth seen by service providers. Hiring activity also saw a notable uptick. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like AVIK 4 BHK Floors - Golf Course Road Extn, Gurgaon Birla Navya AVIK Click Here Undo Manufacturers reported their strongest employment growth since records began over 20 years ago, while service sector hiring remained solid, though slightly slower than in May. 'The combination of robust global demand and rising backlogs prompted manufacturers to increase hiring,' Bhandari said. Price pressures offered some relief as input cost inflation eased to a 10-month low, enabling companies to hold back on passing costs to customers. As a result, output price rises moderated after hitting a six-month high in May. May's figures showed consumer prices at a six-year low, which may give the Reserve Bank of India more room to support growth and consider cutting interest rates, especially in light of global trade uncertainties. Despite the upbeat data, overall business confidence dipped to its lowest level in over two years. Manufacturers showed slightly improved sentiment, but service firms expressed caution about the year ahead. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
26 minutes ago
- Time of India
Czech court cancels for second time ruling that acquits former Prime Minister BabiS of fraud charges
AP image PRAGUE: Prague's high court canceled for the second time on Monday a lower court ruling that acquitted former Prime Minister Andrej BabiS of fraud charges in a $2 million case involving a European Union subsidy. The court returned the case for retrial to Prague's municipal court to deal with it, saying the lower court, which acquitted BabiS for the second time last year, did not properly assess evidence. BabiS had pleaded not guilty and repeatedly said the charges against him were politically motivated. The prosecution had originally requested a suspended sentence and a fine to be paid by the populist billionaire who left the courtroom before the verdict was announced. The municipal court acquitted Babis for the first time in 2023. Prague's high court later canceled that decision and ordered the case to be retried at the same court. BabiS' former associate Jana Nagyova, who signed the subsidy request, will also face retrial. The case centred around a farm known as the Stork's Nest, which received EU subsidies after its ownership was transferred from the BabiS-owned Agrofert conglomerate of around 250 companies to Babis' family members. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo Later, Agrofert again took ownership of the farm. The subsidies were meant for medium- and small-sized businesses, which Agrofert wouldn't have been eligible for. The conglomerate later returned the subsidy. The lower court previously said what BabiS did was not considered criminal. Babi has become part of the country's opposition after his populist ANO (YES) centrist movement lost the 2021 parliamentary election. He also contended for the largely ceremonial post of president in January 2023 but lost to Petr Pavel, a retired army general. Monday's verdict comes just months before October's parliamentary election in which BabiS and his movement are predicted to win the vote.
Time of India
30 minutes ago
- Time of India
How Walmart plans to steal Amazon and Google's best tech talent
Walmart is investing billions in a gleaming new headquarters campus designed to lure top tech talent away from industry giants like Google, Netflix and Amazon, as the retail behemoth transforms itself into a technology-driven company to compete in the digital marketplace. The retailer's new 350-acre Bentonville, Arkansas campus features Silicon Valley-style amenities including electric bikes, robot groundskeepers, a hotel, food hall, amphitheater and massive fitness centers. The facility, which opened its first building in January, represents a dramatic departure from Walmart's spartan former headquarters in a converted distribution center with wood-paneled offices and few windows. Tech workers now comprise one-third of Walmart's 15,000-person corporate workforce, driving the company's digital advertising platform, data services, artificial intelligence and drone delivery operations. This technological pivot has forced the world's largest retailer by revenue to compete directly with tech companies for skilled employees who have specific workplace expectations. From discount store to tech powerhouse by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo "You are in a competition for talent — even if you are the largest company in the world by revenue — and having a nice experience and work environment is a great recruiting and retention tool," said Scott Benedict, a former Walmart executive turned retail consultant, according to The New York Times. The challenge is particularly acute for a company based in Arkansas, where recruiting tech talent requires convincing workers to relocate from major metropolitan areas. Walmart must demonstrate that life in Bentonville can rival opportunities in San Francisco, Seattle or New York while shedding its image as a traditional brick-and-mortar retailer. Dan Bartlett, Walmart's executive vice president of corporate affairs, acknowledged the new campus "will play a role in recruiting and retention of talent, particularly tech talent, where they have certain expectations." Walmart is going beyond price wars The transformation reflects Walmart's recognition that competing on price alone is no longer sufficient. Modern commerce demands excellence in convenience, breadth and speed, forcing the company to match Amazon's technological capabilities while leveraging its vast network of nearly 11,000 stores worldwide. Walmart's e-commerce business recently achieved profitability, with the company expecting two-thirds of future growth to come from digital operations. The retailer now sells premium items like $6,000 Louis Vuitton handbags online while expanding drone delivery services to compete with Amazon's logistics network. The investment appears to be paying dividends with investors. Walmart's stock has outperformed both the S&P 500 and Amazon this year, rising more than 5 percent as analysts overwhelmingly rate the company a buy. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
