The projections indicate India’s GDP will reach 34.2 trillion international constant PPP dollars (2021) by 2038. (AI image) India may surpass the US to become the world’s second largest economy in PPP terms by 2038, according to an analysis by EY in its latest Economy Watch report. The projection assumes significance at a time when…
The number of Americans seeking unemployment benefits fell last week, suggesting companies are reluctant to lay off workers even as the economy loses momentum. For the week ending 23 August, applications for jobless aid dropped by 5,000 to 229,000, the US Labour Department reported on Thursday. The figures come at a time when the jobs…
Federal Reserve governor Lisa Cook has taken the Trump administration to court after the US president tried to fire her.Cook’s lawsuit, filed by lawyer Abbe David Lowell, seeks an injunction to block her dismissal and “confirm her status” as a member of the central bank’s governing board.The case is being seen as an extraordinary legal…
The United States economy showed stronger growth than previously estimated in the second quarter of the year, government figures showed on Thursday.According to the second estimates released by the US commerce department, the gross domestic product (GDP) rose at an annual rate of 3.3% between April and June, an upward revision from the 3.0% figure…
India’s much-talked-about savings from importing discounted Russian oil is not as large as believed. The gains are estimated to be just $2.5 per annum, far lower than the $10–25 billion, which is often quoted in media reports, a CLSA report showed on Thursday.“Benefit from Russian oil imports is way less than exaggerated media numbers,” CLSA…
Representative Image (AI-generated) Ontario Premier Doug Ford on Wednesday said that the province’s ban on American alcohol will stay in place until US President Donald Trump removes tariffs on Canadian goods or a new free trade deal is reached. He cautioned that such an agreement could take a long time.Ford introduced the ban in March,…
India’s textile exporters may be bracing for a major blow as the United States’ steep 50% tariffs come into force, with experts warning that nearly one-fourth of the country’s textile exports could be hit over the next six months. America is the largest market for Indian apparel, and order cancellations have already begun troubling exporters.The…
India may consider relaxing certain restrictions on foreign direct investment from China as ties with Beijing show signs of thawing, a senior government official said. “If need be, we can take a relook at Press Note 3,” the official was quoted as saying ET. “All options are open.”The Press Note 3 requires prior government approval…
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved four major railway infrastructure projects worth around Rs 12,328 Crore. Spread across Gujarat, Karnataka, Telangana, Bihar, and Assam, the projects are aimed at boosting passenger and freight connectivity, reducing logistics costs, and supporting India’s climate goals.The four approved projects include the Deshalpar–Hajipir–Luna and…
A day after the 50% tariff imposed by the US on Indian goods came into effect, Maruti Suzuki India chairman RC Bhargava said that India should stand united to face the 50% tariffs imposed by the US and not give “in to any kind of bullying”.“It is our duty as Indians to do our very…
