Tag: India’s GDP

Current Trends in Indian Economy GDP growth dips to 6.3% as manufacturing slides Manufacturing and mining output contracted year on year in the July - September quarter, dragging Gross Value Added growth to a slower than expected 5.6%, which together with high inflation and weak exports combined to slow overall Gross Domestic Product (GDP) growth to a 6.3% pace, as per estimates released by the National Statistical Office. The April to June quarter of 2022 fiscal had witnessed GDP growth of 13.5%, with GVA expanding 12.7%. Reports and Indices Climate Investment Opportunities in India’s Cooling Sector The report titled, “Climate investment opportunities in India’s cooling sector” was released by the World Bank. Key Highlights of the Report From 2030, 160 million to 200 million people will be exposed to lethal heat waves in India every year, and nearly 34 million Indians will face job losses due to heat stress related productivity decline. By 2037, the demand for cooling is likely to be eight times more than the current level. India should deploy alternative and innovative energy efficient technologies for keeping spaces cool which could open an investment opportunity of $1.6 trillion by 2040, besides reducing greenhouse gas emissions significantly and creating 3.7 million jobs. There will be a demand for a new air conditioner every 15 seconds in the coming years. The report proposes a road map to support New Delhi’s India Cooling Action Plan (ICAP), 2019, through new investments in three major sectors: building construction, cold chains and refrigerants. It proposed enacting a policy for “district cooling”. District cooling technologies generate chilled water in a central plant which is then distributed to buildings via underground insulated pipes. This brings down the cost for providing cooling to individual buildings. About World Bank Formation - December 1945 President - David Malpass…

Fitch Ratings slashes its growth forecast for India from 5.6% to 5.1% for 2020-21, as Covid-19 hit Indian manufacturers after supply chain disruptions in China. Fitch joins a chorus of international agencies that have made similar observations in recent days. Standard and Poor’s (S&P) on Wednesday had slashed its 2020 growth projection for India from 5.7% to 5.2% as it feared that the Asia Pacific region may slide into a recession, with countries enforcing lock-downs to contain the pandemic. Moody’s and the Organisation for Economic Cooperation and Development (OECD) have cut their 2020 growth projections for India to 5.3% and 5.1%, respectively.