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Tiruchirappalliand dedicated multiple development projects worth more than ₹20,000 crore, including Tiruchirappalli International Airport new terminal, related to the aviation, rail, road, oil, and gas, shipping, and higher education sectors. Governor RN Ravi and CM MK Stalin were also present at the event. He was felicitated by Civil Aviation Minister Jyotiraditya Scindia and CM MK Stalin during the public program in Tiruchirappalli, Tamil Nadu.

Every month, Mint’s Plain Facts section brings out an update on key global economic data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts attempt to explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India. This time, we explain the impact of the attacks on vessels in the Red Sea on world trade and the policy pivot by the US Federal Reserve signalling rate cuts this year.

Anish Tawakley, Deputy CIO - Equity, ICICI Prudential AMC believes the froth is overdone in the mid-cap and small-cap spaces and he recommends booking profits and switching to large caps. In an interview with Mint, Tawakley also said that the performance of the Indian market will be driven more by earnings growth and earnings outlook, than by small moves by the Fed. Edited excerpts: Market performance was good in 2023 because the economic outlook has turned positive.

Also Read: FPI flows into India may remain supportive for markets during 2024 feel expert Brokerage firm Motilal Oswal Financial Services believes the Indian markets have further upside potential which will be a function of US Federal Reserve’s stance on interest rates and continued earnings delivery versus expectations in the near term. Moreover, the market capitalization-to-GDP ratio is at 124% and the brokerage firm expects nominal GDP to increase 8.2% and 10.1% YoY in FY24 and FY25).

Also Read- Top 7 investment trends to look out for 2024 Another reason for Jefferies expecting on market scaling new highs is that they expect improvement in foreign inflows during 2024. Key triggers for Foreign Portfolio Investor flow as per Jefferies will be peaking Dollar, May'2024 general elections and rising significance of India in global markets.

yellow metal has been impressive, showing a gain of more than 12% this year, and on India’s Multi Commodity Exchange (MCX), gold’s trading value recently stood at a staggering ₹61,221 per 10 grams (as of December 11, 2023). A recent report by the World Gold Council (WGC) highlights that gold’s performance has been bolstered by various global events including the collapse of the Silicon Valley Bank, an approaching election year for major economies such as the US, the EU, India, and Taiwan, and the continued demand from central banks.

In the last week of 2023, India’s share in global market capitalization hit a record 3.8%, according to Bloomberg data, consolidating the country’s position as the fifth biggest equity market, just behind Hong Kong. In nominal terms, India’s GDP is also the world’s fifth largest (by purchasing power parity, or PPP, it is the third largest).

Robert M. Solow, MIT Institute professor emeritus, a path-breaking economist whose work influenced generations of economists, died on 21 December, aged 99. Though popularly known for his characterization of technology and its role in economic growth, Solow’s profound influence on research in economics spanned numerous sets of issues both in macro and microeconomics.

Gold should remain a key component of investor portfolios in 2024 to help mitigate the volatility expected in equities and fixed income amid crucial local and global events, said experts. While an easing interest rate environment is seen propping up prices of the yellow metal, double-digit returns like those in 2022 and 2023 are unlikely, especially at the current levels, they said, advising investors to stagger purchases. «Whenever interest rates in the US come down, gold prices tend to rally, and some part of this year's rally is already reflecting this,» said Nilesh Shah, managing director, Kotak Mutual Fund. Gold prices have gained 12% in 2023 as stress in the banking system and expectations that the US central bank would pivot saw some safe-haven buying at the start of the year.

SoftBank, which of late has not been signing new startup funding deals in India and is preparing to offload stakes in IPO-bound Ola Electric and FirstCry, still holds $1.1-1.2 billion worth of shares in its listed portfolio companies here. The Japanese investor has sold stakes worth $1.8-1.9 billion during the public offerings and through post-listing sales in four Indian startups — Paytm, Zomato, PB Fintech and Delhivery — that went public in 2021 and 2022. It had invested a total of $2.3-2.4 billion in these four new-age companies.

This column appears on the second working day of the new year, and, as is customary, it tries to discern the path ahead. Amid the known-unknowns, some developments look almost certain. It is fair to say that the world will continue to be influenced by geopolitical shifts and conflicts in the first quarter of 2024.

Growth and potential: India’s economic growth story is compelling. Its GDP has grown at a steady more than 7% in US dollar terms, outpacing most countries. This growth translates to strong corporate earnings, with Nifty 50 firms posting 22% profit growth over the past 3 years in compound annual growth rate terms.

Reuters reported. This is likely to be a temporary move but the “most significant" one as this is the first pullback of troops announced since the beginning of the war in October 2023. The military said in a statement on Monday that five brigades, or several thousand troops, were being taken out of Gaza in the coming weeks for training and rest.

trade policies, the intersection with environmental and other considerations has become a pressing concern, particularly for the developing and emerging world. As the global community grapples with climate change, plastic waste, biodiversity loss, and pollution, the need for a balanced approach that fosters sustainable development, meaning the triumvirate of economy, equity, and ecology, is more crucial than ever.

Tata Motors, a leading global automobile manufacturer, Monday reported that its total domestic sales increased by 4% to 76,138 units in December 2023 The Mumbai-based automaker dispatched 72,997 units to its dealers in December 2022. The company has reported a 9% increase in its total Passenger Vehicles (PV) sales, including electric vehicles, in the domestic market at 43,470 units in December 2023 as compared to 40,043 units in December 2022.

₹24.75 crore. What explains this? First, Starc is a great T20 bowler, who has taken 170 wickets in the 121 T20 appearances at an average of 19.5 per wicket and an economy rate of 7.5 runs per over. Second, he will be playing IPL after eight years, bringing a certain novelty to the tournament and the team that he will play for.

students, including Indians, starting courses at British universities this month will no longer be able to bring family members on all but postgraduate research courses and courses with government-funded scholarships under tougher UK visa norms effective from Monday. The UK Home Office said the changes, first announced by former home secretary Suella Braverman in May last year, are aimed at clamping down on people using the student visa as a backdoor route to work in the UK and will see an estimated 140,000 fewer people come to the UK.

Himanta Biswa Sarma said that Tata group company Tata Electronics, will recruit 1000 science graduates for its semiconductor facility in Narasapur near Bengaluru, adding that by 2026 Assam’s GDP will be 10 lakh crore. Asserting that 2024 will be a year of industrial investment in Assam, Sarma while talking to media persons on Monday said, “Tata Electronics will recruit 1000 science graduates for its semiconductor facility in Karnataka.” Tata Electronics Pvt. Limited is in the process of setting up a plant involving a financial outlay of Rs. 40 thousand crores for assembling and packaging of semiconductors at Jagiroad in Assam. He said that in 2023-24 Assam’s GSDP had touched 5.65 lakh crore.

₹2.1 trillion worth of new projects were announced across the country in the December-ended quarter, up nearly 15% from the preceding three-month period, showed data from the project-tracking database of the Centre for Monitoring Indian Economy (CMIE). While capital expenditure proposals were still sharply weaker than the year-ago period, when projects worth ₹9.5 trillion were announced, the latest figure marks a sharp turnaround after two quarters of precipitous decline. The data is provisional, and may be updated later.

₹2,000 banknotes in circulation, the Reserve Bank of India (RBI) said on Monday. The total value of ₹2,000 banknotes remaining in circulation as of December 29, 2023, stood at ₹9,330 crore, the apex bank said. The central bank said ₹2,000 banknotes will continue to be legal tender.

Canadians are ringing in the new year with plans to cut down on spending and make other behaviour changes amid growing recession fears after a year riddled with concerns about inflation, rising interest rates and high cost of living.