Economy / The Times of India
Moody's Rating warns that escalating tensions with India could negatively impact Pakistan's growth, fiscal stability, and macroeconomic situation. Pakistan's weak fundamentals and reliance on IMF bailouts make it vulnerable. While Pakistan's economy shows signs of improvement, persistent tensions could strain its foreign exchange reserves and access to external financing. In contrast, India's economy is expected to remain stable, with minimal disruption due to limited economic ties with Pakistan
According to the IMF's World Economic Outlook April 2025, India is projected to become the fourth largest economy globally in 2025, surpassing Japan with a nominal GDP of $4,187.017 billion. The report indicates continued growth, forecasting India to overtake Germany by 2028 and achieve a $5 trillion economy by 2027.
Moody's Ratings warns that ongoing tensions with India pose a greater economic risk to Pakistan than to India. Pakistan's growth and fiscal consolidation could be hampered, straining foreign-exchange reserves. India's economy remains robust, with minimal impact expected.
Uday Kotak, the billionaire banker, has acquired an entire residential building on Mumbai's Worli Sea Face for over Rs 400 crore, setting a new national record for residential property prices. The acquisition of '19 Shiv Sagar' was completed with eight additional apartment deals, pushing the per sq ft rate to a record Rs 2.75 lakh.
The Punjab and Haryana High Court has struck down a 2020 amendment to Haryana's urban development rules, deeming it unconstitutional. The invalidated rule allowed the state to demand land and forfeit large sums from developers surrendering licenses.
PM Modi addressed the WAVES 2025 summit, highlighting India's potential in the audio-visual and entertainment industries. He announced the establishment of the Indian Institute of Creative Technology (IICT) in Mumbai. Mukesh Ambani projected a significant growth for India's media and entertainment sector. The IICT will collaborate with tech giants.
Mumbai's property registrations soared in the first four months of 2025, reaching record highs in revenue and total registrations. The city saw a 21% increase in revenue, reaching Rs 4,633 crore, and an 8% rise in registrations with 52,896 properties registered. This surge was driven by a spike in March following the announcement of increased ready reckoner rates.
India's External Affairs Minister S Jaishankar discussed the nation's growing alignment with Europe, highlighting economic progress and strong bilateral relations with Ireland. He emphasized the significance of finalizing the free trade agreement with the EU and the increasing convergence as India becomes a major global economy.
India will present its effective waste management practices from the Mahakumbh at the upcoming 'Regional 3R and Circular Economy Forum in Asia and the Pacific' in Jaipur. Housing and urban affairs minister Manohar Lal Khattar noted the religious congregation's efficient waste management plan involving 25,000 personnel. The conference will discuss 'waste to wealth' and boosting circular economy.
UP CM Yogi Adityanath defended the Rs 4,000 crore expenditure on the Maha Kumbh, highlighting its economic benefits. He clarified that only Rs 1,500 crore was spent on the event, with the rest on Prayagraj's infrastructure. At a Lucknow event, he emphasized ongoing projects that bolster UP's development and thanked ministers for their support in achieving world-class infrastructure.
British band Coldplay's concerts in Mumbai and Ahmedabad received attention from PM Narendra Modi, who highlighted India's potential as a concert economy. Modi emphasized India's rich musical heritage and a large youth population as key factors, urging public-private investments in infrastructure to harness opportunities for generating revenue and employment through live events.