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Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets based on seven high-frequency indicators. With a composite score of 70, India topped the EM league table in November. Brazil and Mexico were second and third, respectively.

The year 2023 was mixed for the Indian economy, with gross domestic product having expanded quicker than expected but the effects of a below-normal monsoon keeping inflation fears intact. While the government lent support to the economy through capital expenditure, gross fixed capital formation, a proxy for investments, remains low despite some improvement.

The earnings growth of Nifty100 index in H1FY24 was 35%, while price performance was 15%, indicating undervaluation. We anticipate favorable returns on non-equity assets too, by taking low risk, including debt and commodities. High interest income and changes in monetary policy have improved the outlook for debt paper.

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Yogesh Patil, Chief Investment Officer -Equity at LIC Mutual Fund. In an interview with Mint, Patil talked about the market's performance in 2023 and the outlook. Edited excerpts: The government has already announced many measures such as production-linked incentives (PLI) to propel economic growth.

Hindalco Industries has seen its share price rise more than 20% during the period. Also Read- HFCL share price locked at over 7% upper circuit to hit 52-week high mark: What drove the rally? Nevertheless, on the Global front the demand growth has remained muted (around 2% in 2023 as per ICRA estimates). While the global copper demand was expected to get a boost by the opening up of China economy post easing of Covid-19 curbs at the start of 2023, the same however did not happen leading to disappointment.

Federal Reserve received some holiday cheer as inflation continued to soften while consumer demand firmed, and the Bank of Japan stuck with the world’s last negative interest rate. Meantime, maritime attacks carried out by Houthi rebels in Yemen have disrupted shipping in the Red Sea, prompting a rerouting of cargoes that’s raised costs. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: World The recent spate of attacks by Yemen’s Houthi rebels on vessels transiting the major shipping route has resulted in several large shipping companies avoiding the waterway. The decision by the world’s five largest container liners — with 65% of global capacity — to suspend transits through it means higher shipping costs and longer delivery timelines.

Ashi Anand, Founder & CEO, IME Capital, says “we are seeing a larger risk on trade, FII flows are starting to come back in. It is really the context of the current strength in metals. But from a slightly longer-term perspective, the Chinese economy is really struggling and importantly, it is the housing sector in China which is really struggling the most. Just two days ago, a Chinese developer went bankrupt. Now, China has been the core driver of global demand for metals and if the biggest demand driver is really going to be weak, it is really difficult to build any kind of longer-term fundamental call on at least the core metals.” A lot of interest in the IPO market and considering you track this space closely, any business that you have liked, any IPO that you have subscribed to? Ashi Anand: Yes, we are tracking the IPO space. There are certain interesting IPOs coming up. There are certain D2C brands which are coming up. There are certain other digital platforms. So, it is a space that we are tracking. The only problem is the IPO market is probably a bit too hot. Participation is probably being too high. There is a large amount of IPOs which probably are not of that high quality seeing very large subscription numbers.

New Delhi: States with relatively high revenue deficits such as Punjab, Himachal Pradesh, Kerala, West Bengal and Andhra Pradesh must take a leaf out of their healthy counterparts' book, Krishnamurthy V Subramanian has told ET, adding that the fiscal position in those states is a matter of concern even as the overall situation seems to have improved from the peak of the pandemic. Likening their fiscal situation to «aamdani atthanni kharcha rupaiya» (spend twice than you earn), Executive Director of the International Monetary Fund (IMF) said «there is no option for these states but to implement some necessary, though not popular, decisions to tighten their fiscal belts by reducing unproductive expenditures.» The fiscal situation of these states is like a leaky boat that can have only one outcome — «sink», he added. «These states should look to learn from Uttar Pradesh, Maharashtra, Madhya Pradesh, Karnataka and Tamil Nadu, which together accounted for more than 40% of the combined capital outlay undertaken by all states during the last five years,» Subramanian said in an interview over phone and email from Washington. «The states can also look to emulate Gujarat's Atmanirbhar Gujarat Policy for assistance to mega industries in sectors such as green energy ecosystem, mobility, capital equipment, metal and minerals, and gems and jewellery,» he added. Subramanian, who had earlier served as India's Chief Economic Advisor, further said the states with large revenue deficits will find it tough to get out of debt as these are also the states where the growth rate of state GDP is not so high. Conceptually, a revenue deficit implies that the revenue receipts of a state are not sufficient to meet its revenue expenditure,

Work does not satisfy anyone nowadays. Citing the lack of adequate compensation, timely promotion, and meaningful growth opportunities, countless employees express their dissatisfaction by quitting, moonlighting, malingering, or trundling on while wearing a face resembling impatience on a monument gritting her teeth. Captains of industry are equally disgruntled.

economic conflicts, such as worker strikes, have been on the wane, the vicious circle of low employability, leading to few jobs, mass unemployment and frustration, is now showing up in new forms of social conflict,” former RBI governor Raghuram Rajan and economist Rohit Lamba write in their new book Breaking The Mould. They cite the conflict over reservations in Manipur and the substance abuse problem among Punjab’s youth as examples of how these frustrations are being channelled.

BUENOS AIRES (Reuters) — Argentine President Javier Milei has issued a decree calling for extraordinary sessions to speed up reforms, reinstate the tax on salaries abolished by the previous government, and modernize the electoral process.

turns the Israel-Palestine war into a global economic problem. For weeks, ships transiting the strait, a choke point in the Suez Canal, have been under attack from the Houthis, a group of highly trained, Yemen-based, Iran-backed militants with access to an array of sophisticated naval artillery. The attacks are part of the group’s offensive against Israel’s bombardment of Gaza. At least 10 of the world’s biggest shippers and one oil supermajor have decided to avoid the canal, a passageway for more than 20,000 ships a year, which account for 12% of global trade, 9% of oil demand, 6% of LNG imports and 30% of container shipments.

Here are the biggest analyst moves in the area of artificial intelligence (AI) for this week.

Hardik Pandya missing the upcoming IPL 2024 season, sources told ET Online on Saturday that there is no official confirmation of his exclusion from the tournament. The sources said the all-rounder is training and it is too soon to say anything as there is still time for the tournament. Pandya left the recently concluded ICC ODI Men's World Cup midway due to an ankle injury and reports have suggested that he would not participate in the upcoming T20I series against Afghanistan. Pandya, 30, made a comeback to the Mumbai Indians squad recently following a two-year stint at Gujarat Titans and was named skipper of the five-time champions. In his two-season stint at Titans, Hardik scored 833 runs in 30 innings, with an average of 41.65 and strike rate of 133.49.

Pakistani rupee hit an all-time low, crossing the PKR 300 mark against the US dollar in August 2023. The country's foreign reserves with the State Bank of Pakistan (SPB) also dropped to an alarming level — at $3.1 billion in January 2023. The cash-strapped country struggled to unlock funding from the International Monetary Fund (IMF).

Air India received India's first ever Airbus A350, registered as VT-JRA as it continues its transformation, the company said in a media statement on Saturday. The aircraft will commence commercial service in January 2024 and will initially operate domestically for crew familiarisation, it said. Later on, services will be offered for longer-haul destinations. The carrier will announce the schedule for commercial operations with the A350 in the coming weeks. «This moment marks a red-letter day for all of us at Air India. The A350 is not just metal and engines; it’s the flying embodiment of the relentless efforts of all Air India employees towards our airline’s continuing transformation and of our commitment to setting new benchmarks. It is also, in many ways, a declaration of Indian aviation’s resurgence on the world stage,» said Campbell Wilson, Chief Executive Officer & Managing Director, Air India in the statement.

Throttling back on oil production hasn’t helped OPEC and its allies to push up crude prices lately. At least four times in the past 15 months, members of the alliance known as OPEC+ have slashed oil output, only for prices to soon retreat anyway. A surge near $100 a barrel petered out earlier this year, and crude futures tumbled 10% in the two weeks after the coalition announced a roughly 5% reduction on Nov.

Hardik Pandya who recently replaced Rohit Sharma as Mumbai Indians' new captain is likely to give the upcoming Indian Premier League (IPL 2024) a miss due to an ankle injury. Pandya left the recently concluded ICC ODI Men's World Cup midway due to an ankle injury and reports suggested that he would not participate in the upcoming T20I series against Afghanistan. News reports now suggest that he is also likely to not participate in IPL 2024. Pandya, 30, made a comeback to the Mumbai Indians squad recently following a two-year stint at Gujarat Titans and was named skipper of the five-time champions.

Wayfair employees, celebrating the company's recent successes. He also provided guidance on financial decision-making, urging employees to assess spending and engage in negotiations. Inquiring about the reasonableness of expenditures and encouraging price negotiation were key points in his message, according to the report.

Both these expectations went wrong, and despite money supply shrinking the world over, the world GDP grew higher than expected driven by Japan and the US, which recorded 4.8-4.9% GDP growth in certain quarters higher than EM. With the US expected to end 2023 with a 2.6% growth in its GDP and Japan at 2%, the world economy expanded as against witnessing a “recession”. This came at the cost of higher fiscal spending, however.