New Delhi, June 9 (IANS) As the world economies begin to diversify in the challenging environment as part of their China+1 strategy, India, which has seen an average GDP growth between six and six-and-a-half per cent in the last 12 years, is cushioning itself by signing several trade deals with advanced economies, HSBC’s Chief India Economist Pranjul Bhandari said on Tuesday.Talking to IANS from Singapore, she said that India’s potential growth, at this point in time, lies in its ability to grow…
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New Delhi, June 9 (IANS) A fair increase in fuel prices could still be on the table if global crude oil costs remain elevated and India’s import bill continues to strain oil companies, Pranjul Bhandari, Chief India Economist at HSBC said on Tuesday.In an exclusive interview with IANS, Bhandari noted that India’s landed cost of crude oil imports has recently been around $110 per barrel, a level she said is putting significant pressure on oil marketing companies.“The landed cost of oil impor…
Mumbai, June 7 (IANS) The largest urban redevelopment project in Asia at Dharavi in central Mumbai, being undertaken by the Adani Group, involves the rehabilitation of more than 1 million slum dwellers for whom 125,000 homes are being constructed.Dharavi, located in central Mumbai, is widely regarded as Asia’s largest slum. Spread over an area of around 600 acres, it houses more than a million people in a densely populated slum along with four large industries — pottery, food processing, leat…
New Delhi, June 6 (IANS) The latest measures by the government and the Reserve Bank of India (RBI) to boost rupee and foreign capital could improve the balance of payments (BoP) by more than $30 billion in the short run, by both narrowing the current account deficit (CAD) and raising capital inflows, according to HSBC.Ahead of the June policy meeting, markets were focused on two fronts: rupee support measures and the policy rate decision. “We think the RBI took a split approach, going ‘all i…
New Delhi, June 5 (IANS) The Reserve Bank of India is set to announce its monetary policy decision on Friday after the three-day Monetary Policy Committee meeting — chaired by Governor Sanjay Malhotra — with experts widely expecting the repo rate to remain unchanged amid geopolitical tensions and rising crude oil prices.The policy decision comes against the backdrop of escalating geopolitical tensions in West Asia, which have pushed up crude oil prices.Experts largely anticipate a status quo o…
New Delhi, June 3 (IANS) India’s services PMI rose to 59.8 in May, from 58.8 in April, amid strengthening demand for freight, digital solutions, e-commerce, entertainment and IT, which boosted new business growth, the HSBC India Services PMI data showed on Wednesday.As a result, companies lifted activity to a greater extent and continued to add to payroll numbers.Although cost pressures remained historically high across India’s service economy, they receded to their lowest in four months, whic…
New Delhi, June 3 (IANS) The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) begins its three-day policy meeting on Wednesday, with experts widely expecting the central bank to maintain status quo on interest rates amid volatile global conditions, driven by ongoing tensions in West Asia. The policy decision will be announced on Friday by Governor Sanjay Malhotra.The June review comes amid sustained geopolitical tensions and volatile global crude and gas prices, which have complic…
New Delhi, June 2 (IANS) India’s electric vehicle (EV) market registered an increase in demand during May this year, as higher fuel prices pushed more buyers towards battery-powered alternatives, according to reports by Nomura and HSBC.According to Nomura, EV sales in May reached 6.4 per cent of passenger vehicle sales, compared with 4 per cent in FY26, while electric two-wheelers accounted for 8.9 per cent of sales, up from around 6.5 per cent last year. The brokerage said that demand sentiment…
New Delhi, June 2 (IANS) The Reserve Bank of India is expected to keep policy rates unchanged in the upcoming Monetary Policy Committee meeting, although its communication may turn more hawkish as rising oil prices and a weaker rupee complicate the inflation outlook, according to an economist at HSBC.Pranjul Bhandari, HSBC’s chief India economist and macro strategist, projects a gradual tightening with about two rate hikes beginning in the fourth quarter of 2026 rather than an aggressive tight…
New Delhi, June 1 (IANS) India’s manufacturing PMI rose to 55.0 in May, above the readings of 54.7 in April and the flash figure of 54.3 due to quicker increases in buying levels, new orders and output compared to April, with stockpiling gaining strength as a result, the HSBC Flash India PMI data showed on Monday.May data showed that growth across India’s manufacturing industry came in stronger than the ‘flash’ estimates released around 10 days ago. Meanwhile, purchasing prices rose at the sec…