According to the RBI, India's credit-to-GDP ratio was 90.1% in 2022, indicating potential for higher credit growth compared to advanced and emerging markets. This growth can boost economic development. The analysis also finds that income growth positively impacts bank deposits.
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JSW Group is in advanced negotiations to buy Everstone Capital's 8% stake in MG India, potentially increasing JSW's stake to 43%. Currently, Everstone Capital holds 8%, while JSW Group owns 35%. MG India's Chinese parent SAIC owns 49% of the company. The valuation of the 8% stake could be Rs 1,000-1,200 crore.
IndianOil chairman Arvinder Singh Sahney stated that recent US sanctions on Russian oil exports will not impact India's energy security. India diversifies its crude procurement from multiple sources such as the Gulf, Africa, and the Americas. Additionally, new suppliers like Brazil and Guyana are emerging, ensuring supply stability. IndianOil posted a 64% drop in net profit in the recent quarter.
EMA Partners India is raising Rs 76 crore through an IPO on NSE's Emerge platform, opening January 17. With a price band of Rs 117-124 per share, the IPO includes a fresh issue of 53.34 lakh shares and an offer for sale by promoters. The funds will be used for leadership expansion, IT upgrades, debt repayment, and acquisitions.
Finance Minister Nirmala Sitharaman urged industries to diversify supply chains, considering political and strategic factors beyond economics. She emphasized the need to avoid over-reliance on any single nation, seemingly referencing China, and cautioned against excessive borrowing, highlighting global conflicts and inflation as key concerns requiring international cooperation for stability.
Industry and law firms have suggested increasing the FDI cap for R&D and security agencies, liberalizing regulations for agriculture, and streamlining investment rules from China. These suggestions were discussed in a DPIIT consultation to make the overall investment regime in India more attractive, ahead of the Union Budget on February 1.
The Indian rupee fell to a record low against the US dollar, crossing the 85 mark for the first time. This drop was influenced by the US Federal Reserve's indication of fewer-than-expected future rate cuts. While the decline makes imports costlier and benefits NRI remittances, its impact on export competitiveness is debated.
Finance Minister Nirmala Sitharaman refuted concerns of any GST rate increase, emphasizing that the GST rates have been reduced since its introduction, with the average rate dropping to 11.3% from 15.8%. She credited the GST Council for their thorough work in simplifying the tax system.
Three years ago, Liang Wenfeng's hedge fund firm faced a major setback, but he used that time to develop DeepSeek, an AI startup. DeepSeek's breakthrough technology has shaken global AI markets, challenging the US lead. Liang's achievement is notable given his local team, limited resources, and constrained access to advanced tech.
India’s low volume of goods exports to the US offers a buffer against trade tensions due to Trump's tariff moves, with strong services exports and supportive domestic policies enhancing resilience. Economic recovery strategies include increased government spending, eased monetary policies, moderated food inflation, and robust services exports driving growth, says Morgan Stanley.
Budget 2025 income tax expectations: In anticipation of Budget 2025, individual and salaried taxpayers are urging Finance Minister Nirmala Sitharaman to lower personal income tax rates and increase exemption thresholds.