India extends financial support to Maldives through rollover of $50 million Treasury Bill
Akriti Anand
Published 12 May 2025, 10:46 AM IST Mint Image
India extends financial support to the Maldives through the rollover of the USD 50 million Treasury Bill.e
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Hans India
an hour ago
- Hans India
GDP growth rate of 8 to 8.5% must for India to become developed nation
The Ministry of Statistics and Programme Implementation, National Statistics Office on 30th May released the data in respect of FY Q4 2024-25 and the estimates for Real GDP for FY 2024-25. As there were uncertainties as to full year growth, it is gratifying to note that due Q4 good performance of nominal GDP of 10.8 per cent and real GDP growth of 7.4 per cent, it is now estimated that the full year 2024-25 growth was better at 9.8 per cent in nominal and 6.5 per cent at real terms. Given all the global uncertainties including trade policy shift taken by US administration by imposing higher tariffs, recent slowdown in India's growth rate, too, the current esteemed growth at 6.5 per cent for 2024-25 is looking encouraging. However, the current growth is much lesser compared to earlier real GDP growth rates which were at 9.2 per cent for 2023-24 and at 7.6 per cent for 2022-23. For India, GDP growth on an average of 8 to 8.5 per cent is a must as we have to catch up much with per capita income as well our desire to become a developed economy by 2047 and cross the GDP of $30 trillion economy. At the rate of GDP growth of 6.5 per cent in FY 2025, our GDP will be at a level of Rs 188 trillion. As per IMF World Economic Outlook 2025, India's real GDP growth is at 6.2 per cent and GDP at current prices 4.19 thousand billions of USD and GDP per capita 2.8 thousand US dollars per capita, GDP, current prices purchasing power parity at 17.65 thousand billions of dollars, GDP per capita at current prices purchasing power parity at 12.13 thousand per capita and GDP based on PPP 8.53 per cent of world GDP. We had earlier set an immediate target of crossing the target of $5 trillion economy in our pursuit of crossing the target of $30 trillion economy by 2047. The earlier set time limit could not be achieved due to negative growth in 2020-21 due to Covid 19 which we could cover in 2022-23 at 7.6 per cent and later in 2023-24 at 9 2 per cent which according to the current estimates for FY2024-25 at 6.5 per cent got slowed down and according to the government, for 2025-26 real GDP growth is estimated at 6.3 to 6.8 per cent which looks at challenging scenario looking at the global growth perspective as well continuing geo political tensions and supply chain disruptions and especially current challenges of retaining and enhancing our international trade as $has recently following a uncertain policy of higher tariffs which we wish to sort out by mutually acceptable trade agreements with USA. The current GDP of India is at $ 4.3 trillion and some estimates may be nearing at $ 4.4 trillion which leads India GDP doubling in 10 years from $2.1 trillion at 2015 at a higher of 105 per cent rise which is highly appreciable. We are currently near Japan economy GDP at $4.4 trillion and if we are able to sustain and enhance the current level of GDP growth, we will be shortly crossing the Japan economy and we may in future by 2027 cross the GDP of German economy, the third largest economy globally, which currently stands at $4.9 is gratifying to observe the fastest 105 per cent growth of India in 10 years is highest as compared to 66 per cent US, 76 per cent China, 44 per cent Germany with growth of 58 per cent Australia, 50 per cent Spain, 57 per cent Russia, 44 per cent Canada. The current growth in advanced economies has of late been slowing down due to earlier stated uncertainties along with high fiscal deficit as well high debt and need to allocate higher funds for defence which restricts the funds for development. India has to take the best use of the current situation, with further reforms, favourable policy support, continue focus on government capex, along with enhanced private capex, enhance share of manufacturing with higher investment, innovation and technology, attract global FDI with relaxation at policy level and ease of doing business both at centre and states level, take innovation and enhanced emerging technology for keeping the higher share of services exports etc. We must not miss this opportunity and PLI scheme and global trade uncertainties should be used to attract global manufacturers to India. The recent paper of Niti Aayog as to India's path to Global Leadership, Strategic Imperatives for Viksit Bharat @2047, April 2025, mentions that India must focus on four strategic pillars: Economic Competitiveness, Strong National Security, Secure Global Partnerships and Alliances, and Robust Legal. According to be working paper authors Major General K Narayan, and Darpajit Sengupta, these pillars are interdependent and essential for building a resilient, inclusive and influential India on a global stage. In the current scenario where globally a lot of adverse factors and challenges affecting the world growth, in our pursuit of Viksit Bharat, we must focus on India's strong macro-economic fundamentals and opportunities, both domestically and globally, with positive and favourable liberalised policy support. We must get into sustainable, inclusive, productive, innovative, technological strong, human capital, bring the source of strength, new drivers of long-term growth, financially strong India. The commitment to Viksit Bharat should be stronger and all enablers and newer prospectus are to be harnessed and domestic and global opportunities to be tapped with our strong leadership approach and involvement and engagement of all for inclusive and sustainable developed India. The road map and strategies are to be monitored and both Centre and States' proactiveness and private sector active participation will make it a reality.
News18
an hour ago
- News18
IPL Needs 12-16 Week Season To Compete With NFL, NBA: Punjab Kings Co-Owner
Last Updated: Punjab Kings co-owner Mohit Burman feels a 12–16-week IPL season will boost the tournament's brand value, rivaling the NFL and NBA. The Indian Premier League (IPL) requires a 12–16-week operating window to rival the brand value of leading global sports leagues like the NFL, NBA, and Premier League, according to Punjab Kings co-owner Mohit Burman. With a per-match value of USD 16.8 million, the IPL ranks second only to the NFL (USD 36.8 million). However, it still trails its global competitors in overall brand value. According to investment bank Houlihan Lokey, the IPL is valued at approximately USD 16 billion. By comparison, a single NFL franchise, the Dallas Cowboys, is worth USD 9 billion, followed by the New York Yankees at USD 7.1 billion. The NBA's New York Knicks are valued at USD 7 billion, while leading football clubs Real Madrid and Manchester United each hold a valuation of USD 6 billion. The longer operating windows of the Premier League (August to May), NBA (seven months), and NFL (4.5 months) contribute to their higher valuations compared to the current eight-week IPL season. In an interview with PTI, Burman discussed the future of the IPL and the remarkable turnaround of Punjab Kings, who reached the final after 11 years. 'We're already second in the world when it comes to per-match value, just behind the NFL. But overall brand value? That's a different game. I think we need a 12-16-week window to get there," said Burman. 'That gives us space to tell better stories, build rivalries, and create more value for everyone – fans, sponsors, broadcasters. But it's not just about length. It's about what we do in that time – the kind of content we push out, how we engage fans year-round, how we build the league beyond the season. IPL has the scale. Now it's about consistency and depth." 'The IPL is already the biggest cricket product in the world, but staying there means not taking anything for granted. Player availability is crucial. We need a clean window where the best in the world can play without restrictions," said the 56-year-old businessman. 'The fan experience must keep evolving. It's not just about cricket anymore — its sport, entertainment, culture all rolled into one. We don't need to take the IPL abroad — what we do need is to build global relevance. Content, players, and stories that connect with fans across the world." Burman also supports the strategic move of IPL owners investing in overseas leagues. Alongside Punjab Kings, he and other co-owners have invested in the Saint Lucia franchise of the Caribbean Premier League. Other IPL teams have expanded their ownership in multiple leagues, including SA20, ILT20, MLC, CPL, and The Hundred. 'It's a smart and strategic move. A lot of teams are now building a common core — with shared vision, systems, and values — across multiple leagues. That's what makes it sustainable and scalable," he said when asked about the trend of IPL teams expanding overseas . 'For us, the goal is clear: build the Kings ecosystem across geographies and formats. Whether it's IPL or CPL, we want to run our teams with the same purpose — high performance, strong culture, and deeper fan connection. We're not just creating teams — we're building a brand that travels. And this is just the beginning," he said. Financially, the IPL and its franchises have seen significant growth since the league's inception in 2008. 'They go hand in hand. Strong on-field performances drive commercial growth — that's the reality. Brands want to be part of winning stories. We've seen that this year — we're up 25% year-on-year commercially. 'More fan engagement, stronger sponsor interest, and better value across the board. This season proves that when your on-field and off-field stories align — that's where the real magic happens," he said. The turning point for Punjab Kings came with the appointment of Ricky Ponting, which transformed the team's energy and mindset. 'The real turning point came when we took a step back to think the direction of the franchise. Getting Ricky Ponting on board was the first step in our revamp. His arrival transformed the energy — and the mindset," said Burman. 'Then came the auction, where we made strategic choice on balance, clarity, and intent. Backing Shreyas as captain was another big moment — he brought composure, vision, and a sense of Unity. 'They didn't just see Punjab Kings as a franchise. They saw it as a project with potential. There's no hierarchy here — just one team, moving toward one goal. That's a powerful thing. 'Off the field, we rewired everything — from marketing and storytelling to fan engagement. Commercially, we've seen strong growth. But what I'm most proud of is the culture — one rooted in belief, joy, and accountability. That's been the true foundation of the success," he added. (With inputs from PTI)
Deccan Herald
an hour ago
- Deccan Herald
IPL needs a 12-16 week window to match the likes of NFL: Mohit Burman
At USD 16.8 million, the IPL is only behind NFL (USD 36.8 million) in terms of per-match value but needs to catch up with its global rivals like NFL and leading European football leagues when it comes to the overall brand value pecking order.
