INDIA A ‘BRIGHT SPOT’ IN WORLD ECONOMY RIGHT NOW

New Delhi: Toyota Kirloskar Motor on Friday said it has commenced bookings for the updated version of its multipurpose vehicle Innova Crysta. The model now comes with a 2.4-litre diesel powertrain mated with a five speed manual transmission across four trims. The opening of bookings for the new Innova Crysta comes on the heels of the launch of the Innova HyCross (available in Gasoline and Strong Hybrid Electric powertrains). —PTI

INDIA’S SUNOIL IMPORTS RISE TO RECORD 473K TONNE

Jio launches 5G services in NE states

New Delhi (FIB): Reliance

United Nations (PTI): India is a “bright spot” in the world economy currently and is on a “strong footing”, projected to grow at 6.7% next year, a very high growth rate relative to other G20 member countries, a top UN economist Hamid Rashid said.

"I think India is a bright spot in the world economy right now,” Rashid said at the launch of the World Economic Situation and Prospects 2023 report.

The flagship report said that India's GDP is projected to moderate to 5.8% in 2023 as higher interest rates and global economic slowdown weigh on investment and exports.

India's economic growth is expected to remain “strong” even as prospects for other South Asian nations "are more challenging.” India is projected to

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z India is a “bright spot” in the world economy currently and is on a “strong footing”, projected to grow at 6.7% next year, a very high growth rate relative to other G20 nations grow at 6.7% in 2024, the fastest-growing major economy in the world. z India’s economic growth is expected to remain “strong” even as prospects for others “are more challenging.” z India is projected to grow at 6.7% in 2024, the fastestgrowing major economy in the world

Rashid said, "we believe the Indian economy is on a strong footing given the strong domestic demand in the near term.” Noting that India's economic growth is expected to pick up in 2024 to 6.7%, he said this is “very high growth relative to other G20 member countries.

“This is a sustainable growth rate for India. India also has a significant number of people living in poverty. So this would be a great boost. If India can sustain this growth rate in the near term, that would be good for the Sustainable Development Goals, good for poverty reduction globally,” Rashid said.

Responding to a question on the Indian economy, Rashid, who is the lead author of the report, attributed three factors to India's current economic strength.

He said India's unemployment rate has come down significantly in the last four years to 6.4%.

Jio on Friday announced the launch of its 5G services across all six states of the northeast circle as its ‘True 5G’ is now available in Shillong, Imphal, Aizawl, Agartala, Itanagar, Kohima, and Dimapur.

The company claimed that by December 2023, Jio True 5G services will be made available in every town and taluka of the northeastern states.

“Starting January 27, Jio users in 7 cities across 6 States of Arunachal Pradesh (Itanagar), Manipur (Imphal), Meghalaya (Shillong), Mizoram (Aizawl), Nagaland (Kohima and Dimapur), and Tripura (Agartala) will be invited to the Jio Welcome Offer, by which they can experience Unlimited Data at up to 1 Gbps+ speeds, at no additional cost,” the company said in a statement.

Jio’s True 5G has now reached 191 cities in less than 4 months of its beta launch, it said.

New Delhi: India’s January sunflower oil imports are set to surge to a record 473,000 tonnes, nearly triple average monthly imports as top exporters Russia and Ukraine seek to reduce stockpiles, industry officials said. Record imports by India come as sunoil’s discount to rival soyoil widened to the highest level in nine months. The import surge will could dampen India’s palm oil imports and weigh on Malaysian palm oil prices. —FIB

TATA MOTORS TO HIKE PV PRICES FROM FEBRUARY 01