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India's falling credit growth dims hope of economic rebound

Credit growth by banks had nearly halved to 8.8% at the end-September from the start of the year.

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Oct 17, 2019, 01.19 AM IST

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  • Handset makers with 5G ready smartphones gave it a miss for IMC third edition as they believe India is still some time away from being 5G ready. Telecom secretary tried to play down the absence of device players saying there was a timing mismatch

    Walmart is mulling to demerge PhonePe —the payment system and digital wallet company of Flipkart - so that its ownership will be vested directly with the US retail behemoth, offering some hope for the country’s long-awaited tech renaissance.

    In June, a committee headed by NITI Aayog chief Amitabh Kant laid out a roadmap for the smooth roll-out of electric vehicles in a phased manner, as well as the setting up of battery manufacturing factories to bring down the costs of EVs.

    Prime Minister Narendra Modi addressed two poll rallies in Haryana on Tuesday where he mentioned the Rafale jets for the Indian Air Force, Article 370 and promised the water issue will be solved by stopping the water flowing to Pakistan.

    Power minister R K Singh said that India has a huge potential because the energy demand is here. The energy demand will grow at the rate of 7, 8 or 9 per cent.

    Trade tensions between India and the US have been rising with President Trump, championing his 'America First' policy, complaining that tariffs imposed by India on American products were "no longer acceptable" to his country.

    Consumption of fuel has touched its lowest since July 2017 indicating that the economy is in the throes of a slowdown. Diesel, which is mostly used in commercial vehicles and farms, saw a drop in consumption of more than 3 per cent in September.

    The Google Pixel - the tech giant's flagship line of phones - won't make it to India, for the first time since the line came into being. Experts believe this is a bad move for Google as spending on premium phones continues to rise in the subcontinent.

    In the backdrop of unresolved bilateral trade issues, restoration of Generalized System of Preferences, price controls on medical devices and duty cuts, US Trade Representative Robert Lighthizer will meet Piyush Goyal for a limited scope trade deal.

    Huawei continues to invest in India, working with the government to counter US allegations that its equipment could be used to help China’s government spy on countries. It has been blocked from selling its equipment in the US and some other markets.

    Agriculture has always been a lifeline of the Indian economy, providing livelihood to millions of farmers; However high production costs, and low access to c...

    Delivering a lecture at Columbia University, Sitharaman indicated that Indian economy has been on growth trajectory even since the Modi govt came to power. She also emphasised that a $5 tn economy will make India a global economic powerhouse.

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