PM Narendra Modi releases Big Bang Numbers on Indian economy

New Delhi: Prime Minister Narendra Modi on Tuesday released the Big Bang Numbers on the Indian economy as part of his Bi-Weekly Bharat newsletter for the fortnight of July 15–31 on the Namo app.

The newsletter highlighted that India’s market cap has hit a record $5.5 trillion while the construction of the world’s highest tunnel was launched by the Prime Minister at Shinkun La on the state boundary between Ladakh and Himachal Pradesh.

Some highlights also include:

n Indian MSMEs created over 20.5 crore jobs in 4 years, while 39 percent of MSMEs in the country are now owned by women.

n 1.4 lakh recognised startups generating 15.5 lakh jobs.

n Employment in India rose by 35 percent to 64.33 crore over the last six fiscal years

n The manufacturing sector (formal and informal entities) saw an 85 lakh employment opportunities increase from 2017–18 to 2022–23.

n India’s exports grew by 5.5 percent to $21.2 billion, resulting in a trade surplus of $300 million. Exports are now all set to surpass $800 billion this fiscal year. In June, India’s electronic goods exports rose 16.9 percent to $2.82 billion.

n In Q1 2024–25, Apple iPhone exports reached $3.8 billion, 79 percent of India's FOB value.

n India's trade deficit narrowed to $20.98 billion in June from $23.78 billion in May.

n India’s outward (FDI) commitments rose to $2.14 billion in June 2024, compared to $1.14 billion in June 2023.

n India Inc. raised Rs 32,619 crore from overseas bonds in 2024. FPI infused Rs 30,772 crore into Indian markets.

n India's card payments market is set to surge 11.3 percent in 2024, reaching Rs 28.4 trillion.

n GCCs completed 6,667 leasing deals, marking a 16 percent increase in India.

n About 6 crore ITRs were led for FY24; 70 percent under the new tax regime.

n Domestic air passenger traffic rose 5.76 percent to 13.2 million in June from 12.4 million last year.

n Automobile retail sales rose 9 percent in Q1 FY25 to 6.2 million units, up from 5.7 million units in Q1 FY24.

n Porsche India sales grew by 40 percent in the January-June period. From 2018-2023, BMW India set records in H1 2024 with 7,098 cars, 3,614 bikes, and 2,000 EVs. (IANS)

 Also Read: Indian Economy in Global Perspectives (sentinelassam.com)

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