Indian Economy News

April 24, 2024

India's business activity surges to 14-year high in April: PMI data

Business activity in April surged to its highest level in almost 14 years, as reflected in a composite index of 62.2, affirming India's rapid economic growth.

India ranks 4th in global military spending at US$ 83.6 billion in 2023: Report

India ranked 4th globally in military spending, allocating US$ 83.6 billion for modernizing weaponry and combat systems, per the SIPRI report 2023.

Outward remittances hit new high at US$ 29 billion in April 2023-February 2024

Outward remittances from India reached a record high of US$ 29 billion under the liberalised remittance scheme, showing a 21.7% increase compared to the previous year, with significant allocations towards international travel and education.

India leads in GenAI adoption, investment trends likely to rise: Report

India leads global GenAI adoption, with 81% of organizations integrating it into operations. 94% anticipate increased investment in GenAI initiatives.

Telecom industry sees growth in AGR led by Bharti Airtel and Reliance Jio

The telecom sector, during the October-December quarter, saw a 1.88% sequential growth in adjusted gross revenue (AGR) to US$ 8.14 billion (Rs. 67,835 crore), driven by the expansion of 5G services by Bharti Airtel and Reliance Jio.

More than 157 million Indians bought 943 million movie tickets in 2023

Over 157 million Indians embraced the big screen experience, with Telugu-speaking audiences leading the pack by averaging over 9 films annually, highlighting a robust growth in cinema attendance amidst evolving streaming habits.