India’s stock market, the world’s fifth-largest, is on the cusp of achieving a historic $4 trillion market capitalization, fueled by a surging retail investor base and resurgent foreign inflows. The NSE Nifty 50 Index reached a new record, leading gains in Asia.
Prime Minister Narendra Modi’s party winning crucial state elections reduced political risk, contributing to the market’s 1.7% surge. The potential milestone underscores India’s emergence as an alternative to China for global investors. Robust economic growth, a youthful population, and efforts to capture global supply chains are propelling India’s economic ascent.
By Bloomberg
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India Set to Realize $5 Trillion Economy Goal Early, Says Finance Minister
India is on track to become a $5 trillion economy, achieving a significant milestone well ahead of schedule, according to Minister of State for Finance Pankaj Chaudhary. The International Monetary Fund (IMF) projects India to have the third-largest GDP by 2027-28.
Chaudhary highlighted the role of a strong rupee and government commitment to economic growth. The minister emphasized that India’s market-determined GDP and exchange rate, influenced by domestic and international factors, play a pivotal role in this economic trajectory.
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Plotted Low-Rise Developments Gain Popularity in Tier-II, Tier-III Cities
The Indian residential real estate market witnesses a resurgence, with an uptick in land transactions by developers, not confined to metros but extending to tier-II and tier-III cities. Plotted developments gain traction, driven by increased demand post-COVID-19.
Major developers, including HoABL, Godrej Properties, and Mahindra Lifespace Developers, engage in strategic land acquisitions to tap into emerging markets. Plotted residential developments and low-rise apartments emerge as popular choices in these areas, reflecting changing preferences and aspirations of homebuyers.