Shaping Global Financial Trends

Prime Minister Narendra Modi last week launched India's first international bullion exchange in Gujarat. The inauguration, Modi said, was among a slew of initiatives that will help India be a part of the league of nations that shape global financial trends. Besides this, as per the Marine Products Export Development Authority (MPEDA), India ranked second after China in marine exporting countries by securing 18x growth in the last seven decades. The council has now set a target of ₹1 lakh crore in turnover by 2025, which it aims to achieve by setting up a sustainable ecosystem that will solve logistics challenges and traceability issues faced by the marine industry.

MSMES

Payment delays are crippling MSMEs. Public and private sectors must pay up what is due

Over the past few years, the micro, small and medium enterprises (MSME) sector has been battered by a series of shocks. From demonetisation to the transition to the goods and services tax to the pandemic, MSMEs have borne the brunt of the disruption in economic activities during each of these periods.

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ECONOMY

India now in league of nations that shape global financial trends: PM Modi

In a slew of initiatives, Prime Minister Narendra Modi on Friday launched NSE IFSC-SGX Connect and India International Bullion Exchange (IIBX) at the International Financial Service Centre (IFSC) in GIFT City Gandhinagar.

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BILATERAL TRADE

Uh oh. Data shows India-China trade deficit widening, Indian exports falling for 1st time in yrs

There’s some bad news about the trade imbalance between India and China: it looks set to get worse this year. Not only is the trade deficit expected to enlarge yet again, India’s exports to China could also fall for the first time in years if data from the first two months of this financial year is any indication.

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ECONOMY

No Chance of India Getting Into Recession For Now: Report

Though a number of economies are at risk of facing a recession in the next one year as higher prices are prompting central banks to raise interest rates, a Bloomberg survey of economists shows that India has zero probability of slipping into the crisis. In general, Asia faces a 20-25 percent chance of witnessing a recession in the next one year.

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WORLD ECONOMY

Asia's factories squeezed by higher prices, weak demand

Asia's factories struggled for momentum in July as China's strict COVID restrictions and flagging global demand slowed production, although early signs red-hot inflation may be peaking provided some optimism for firms squeezed by prices.

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