The week in charts: GDP forecast, Adani shopping list, ₹250-SIP
Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The World Bank upgraded its FY25 GDP forecast for India and Adani group is looking to acquire multiple FMCG businesses. Meanwhile, GST on health and life insurance premia could be discussed at the GST council meeting on Monday.
As the annual festival season beckons, India’s quick commerce startups are posing a stiff challenge to established players such as Amazon and Flipkart. Blinkit, Zepto and Swiggy Instamart are adding costlier items and expanding stores, Mint reported. Most such quick commerce platforms already offer items such as earphones, toasters and induction cooktops, but are expected to expand stocks and add new categories for the festive season.
The World Bank is the latest to revise its 2024-25 GDP growth forecast for India, raising it to 7% from its previous estimate of 6.6%. The forecast comes days after India’s GDP growth for the June-ended quarter came in at 6.7%, slowing from 7.8% in the preceding quarter. The slowdown came as government spending slipped during elections—but private consumption growth surged.
The World Bank is betting on the services sector, capex spending and an uptick in private consumption to sustain India’s growth. $1 billion: That is the war chest the Adani group has built for acquisitions to boost the conglomerate’s fast-moving consumer goods (FMCG) business, Mint reported. Adani Wilmar, the group’s FMCG arm, is in talks to buy at least three spices, ready-to-cook foods and packaged edibles brands in south and east India.
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