Hindustan Aeronautics records ₹30,400 crore revenue despite LCA Mk-1A delay
The LCA Mk-1A programme, crucial for the Indian Air Force (IAF) to shore up its fleet, is running behind schedule due to several reasons
NEW DELHI: State-run plane maker Hindustan Aeronautics Limited (HAL) on Monday announced that it achieved a revenue of ₹30,400 crore in 2024-25 over ₹30,381 crore the previous year despite the shortfall in deliveries of the light combat aircraft (LCA Mk-1A) and the Dhruv advanced light helicopter (ALH), HAL chairman and managing director DK Sunil said.
“The deliveries of LCA were affected due to non-availability of (F404-IN20) engines. The ALH delivery schedule too got hit due to the accident in January 2025 and subsequent grounding of the fleet. However, the deliveries of other products and services were accelerated which helped us maintain the top line,” an HAL statement quoted Sunil as saying.
The engine issue has been resolved, with US firm GE Aerospace last week delivering the first of 99 F404-IN20 engines to HAL for the new LCA Mk-1A, and assuring the Indian side that production was being ramped up to execute the order, a boost for the indigenous fighter programme.
The LCA Mk-1A programme, crucial for the Indian Air Force (IAF) to shore up its fleet, is running behind schedule due to several reasons, including the delay in supply of engines. These engines are meant for the 83 Mk-1As ordered by the IAF for ₹48,000 crore in February 2021.
GE Aerospace is expected to deliver 12 engines this year.
However, the military’s ALH fleet is still grounded after a “swashplate fracture” caused the crash of a coast guard Dhruv helicopter at Porbandar in Gujarat on January 5, and experts are examining the reason for the breakdown of the critical component. The swashplate assembly is a critical part in the ALH’s transmission system.
With the order book significantly improving during the last 12 months, HAL used the year to add capacities as additional production lines for LCA Mk-1A and Hindustan Turbo Trainer-40 (HTT-40) planes were set up, apart from augmenting the aero engine capacity at Koraput in Odisha, the company statement said.
Last week, the defence ministry signed two contracts worth ₹62,700 crore with HAL for 156 Prachand light combat helicopters (LCH) for the armed forces. Also, last September, the ministry signed a ₹26,000-crore contract with HAL for 240 aero-engines for the IAF’s Sukhoi-30 MKI fighter aircraft.
The order book stood at ₹1,84,000 crore as against the opening order book of ₹94,129 crore, HAL said.
“During 2024-25, HAL received new manufacturing contracts worth ₹1,02,000 crore and ROH (repair and overhaul) contracts of ₹17,500 crore. Recently, the company signed a contract with the defence ministry for the supply of 156 Prachand LCH worth ₹62,777 crores. This is the single biggest procurement by the ministry from HAL till date,” the statement said.
With the supply chain issues stabilising, new orders in hands and enhancement of capacities, the company is gearing up for more robust performance in FY 2025-26, it added.
ITC to acquire Aditya Birla-owned paper producer Pulp & Paper Undertaking for ₹3,498 crore
ITC announced its plans to acquire Aditya Birla-owned paper producer Pulp & Paper Undertaking on Monday, March 31.
Fast-moving consumer goods (FMCG) giant ITC Limited is set to acquire Aditya Birla-owned paper-producing firm Pulp & Paper Undertaking for a sum of ₹3,498 crore to strengthen its speciality paper and paperboard business, according to an exchange filing on Monday, March 31.
“The acquisition will strengthen the market standing of ITC’s Paperboards and Specialty Papers Business and engender new opportunities in the domestic and international markets," said B Sumant, Executive Director at ITC Limited, in an official statement.
According to an exchange filing from Aditya Birla Real Estate, the divestment move is aimed at unlocking value for the firm so that it can continue to pursue growth opportunities in the real estate sector.
This deal is subject to the necessary statutory and regulatory approval, including that of the Competition Commission of India (CCI) and the company shareholders. JM Financial is acting as the financial advisor for the deal, and AZB and Partners is the legal advisor to Aditya Birla for this deal.
Aditya Birla Real Estate Share Price
Aditya Birla Real Estate shares closed 4.56 per cent higher at ₹1,969.20 after Friday's stock market session, compared to ₹1,881.75 at the previous market close. Stock markets remained shut on Monday, March 31, on the account of Eid-ul-Fitr.
Aditya Birla Real Estate shares have given stock market investors more than 580 per cent returns on their investment in the last five years and 15.15 per cent returns in the last one-year period. However, the stock has lost 4.86 per cent in the last five stock market sessions.
ITC Share Price
ITC shares closed 0.10 per cent higher at ₹409.80 after Friday's stock trading session, compared to ₹409.40 at the previous market close.
ITC shares have given stock market investors 139.83 per cent returns in the last five-year period.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies,
Stocks to Watch Today: ITC, Hindustan Aeronautics, NCC, EIL, HBL Engineering, Power Mech Projects, Prestige Estates, Desco Infratech in focus on 1 April
Stocks to Watch Today: ITC, Hindustan Aeronautics, NCC, EIL, HBL Engineering, Power Mech Projects, Prestige Estates, Desco Infratech in focus on 1 April
Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, appointments and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Stocks to Watch
Hindustan Aeronautics
The Ministry of Defence signed two contracts with the company for the supply of 156 Light Combat Helicopters (LCH), Prachand, to the Indian Army (90 units) and the Indian Air Force (66 units), along with training and other associated equipment, worth around Rs 62,700 crore. Meanwhile, in FY25, the company recorded a revenue of Rs 30,400 crore (provisional), compared to Rs 30,381 crore in the previous year. The order book stood at Rs 1,84,000 crore as of March 2025, up from the opening order book position of Rs 94,129 crore.
NCC
The company has received other orders totaling Rs 5,773 crore in March 2025. Out of these, Rs 2,686 crore relates to the transportation division, Rs 2,139 crore to the building division, and Rs 948 crore to the water & environment division.
Engineers India
The company has received consultancy assignments worth Rs 245 crore from state-owned organizations for executing projects on a cost-plus basis in Maharashtra and West Bengal.
HBL Engineering
The company has received 5 letters of acceptance for contracts worth Rs 762.56 crore for the provision of Kavach across 413 stations, covering 3,900 km. The total value of all Kavach contracts to date (during the year) stands at Rs 3,618 crore.
RITES
The company has received a Letter of Award for a project worth Rs 155.5 crore from Numaligarh Refinery (NRL). The project involves railway sidings at the NRL Panchgram Terminal, a 3rd Railway Spur at Rangapani (SMT), and Duliajan (crude oil TW loading railway siding) of Oil India. Additionally, the company has received a Letter of Award for a project worth Rs 157.25 crore from Oil India for the construction of a workmen housing complex (BQ area) at Oil India, Duliajan, on a turnkey basis under depository works mode.
Power Mech Projects
The company has secured a Rs 425 crore worth order from Mirzapur Thermal Energy (UP) (a wholly owned subsidiary of Adani Power), Mirzapur, Uttar Pradesh, for the execution of civil works and the erection of prefabricated structural steel. Additionally, it has secured a Rs 972.135 crore worth order from the National Highways Authority of India for the construction of a 4-laning bypass in Jharkhand on a Hybrid Annuity mode.
ITC
The company has entered into a Business Transfer Agreement with Aditya Birla Real Estate (ABREL) for the acquisition of ABREL’s pulp and paper business, operated under the name of Century Pulp and Paper, along with the assets, liabilities, contracts, and employees, as a going concern on a slump sale basis, for Rs 3,500 crore. The acquisition is subject to approval from the Competition Commission of India and the Ministry of Environment.
Prestige Estates Projects
The Board has approved an investment of up to Rs 1,625.04 crore in the equity shares of the company's subsidiary, Prestige Hospitality Ventures, via rights issue in one or more tranches.
Varun Beverages
The company has signed a Share Purchase Agreement with Ghana Bottling Company to acquire 100% of the share capital of SBC Beverages Ghana, and with Tanzania Bottling Company SA, to acquire 100% of the share capital of SBC Tanzania, subject to regulatory and other approvals (if any), including but not limited to PepsiCo Inc.
Borosil Renewables
The company has an outstanding standby letter of credit (SBLC) from HDFC Bank for 10.8 million euros. This SBLC was arranged by the company from the HDFC (HDFC SBLC lender) in favour of the GIFT City Branch of HDFC (HDFC lender bank) as security for the loan of the corresponding amount to the company’s step-down subsidiary, GMB Glasmanufaktur Brandenburg GmbH, incorporated in Germany. The company, through its wholly owned subsidiary, Geosphere Glassworks GmbH, indirectly holds an 86% stake in GMB. GMB has also requested the HDFC lender bank to prepone the repayment schedule and draw upon the SBLC issued by the HDFC SBLC lender towards the repayment of the principal outstanding amount to close the loan.
Vedanta
The Board has decided to extend the timeline for the fulfillment of the conditions precedent in the scheme of arrangement (including approval of the National Company Law Tribunal and approvals from certain government authorities) from March 31 to September 30, 2025. The Scheme of Arrangement is between Vedanta, Vedanta Aluminium Metal, Talwandi Sabo Power, Malco Energy, and Vedanta Iron and Steel.
ICICI Prudential Life Insurance Company
The company has received an order from the Assistant Commissioner of Income Tax, Maharashtra, demanding income tax, along with applicable interest and penalty, totaling Rs 328.41 crore for Assessment Year 2023-24. The company will file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines.
Federal Bank
The bank has executed a binding Memorandum of Understanding with Ageas Insurance International NV (Ageas) and Ageas Federal Life Insurance Company (AFLIC) for the acquisition of a 4% equity stake by the bank in AFLIC from Ageas.
Brigade Enterprises
Brigade Group has signed a Joint Development Agreement for a new luxury residential project in Mysuru, on a land parcel of 5 acres and 12 guntas. The proposed project has a gross development value of Rs 300 crore.
Astec LifeSciences
The Board has approved the appointment of Burjis Godrej as the Managing Director of the company for 5 years, effective April 1, 2025, without any remuneration payable to him in such capacity.
Bajaj Electricals
The Board has approved the appointment of Sanjay Sachdeva as the Managing Director & Chief Executive Officer of the company for 3 years, effective April 15, 2025.
Aditya Birla Money
The company has announced the launch of a new web trading platform, ELEVATE. ELEVATE will replace ABTrade and ABTradelite, offering customers the opportunity to invest in stocks, mutual funds, IPOs, ETFs, derivatives, commodities, and more.
Mankind Pharma
The National Company Law Tribunal, Mumbai (NCLT), approved the Scheme of Amalgamation of BSV Pharma, a step-down subsidiary of the company, with Bharat Serums and Vaccines, a material subsidiary of the company. The scheme will become effective from May 9, 2022.
ITD Cementation India
The Board has approved the re-appointment of Santi Jongkongka as Whole-time Director, designated as Executive Vice Chairman, and the re-appointment of Jayanta Basu as the Managing Director of the company, effective April 1.
ACC
The Board has approved the cessation of Ajay Kapur as Whole-Time Director & Chief Executive Officer of the company, effective March 31. Further, the Board has approved the appointment of Vinod Bahety as Whole-Time Director and Chief Executive Officer for three years, and Rakesh Tiwary as Chief Financial Officer, effective April 1, 2025. Vinod Bahety has ceased to be the Chief Financial Officer of the company, effective March 31.
Mazagon Dock Shipbuilders
The Board will meet on April 8 to consider the second interim dividend for the financial year 2024-25, if any.
Power Grid Corporation of India
The Board has approved the investment of Rs 673.08 crore for the procurement of 6 numbers of 397 MVA converter transformers for the Talcher-Kolar HVDC link under the Additional Capital Expenditure 2024-29 tariff block, scheduled to be commissioned by September 2027.
Shree Cement
The clinker production capacity of the integrated cement plant of the company at Nawalgarh, Rajasthan, has increased from 3.80 MTPA to 4.50 MTPA. The increase in capacity has been achieved through investment in balancing mining equipment and other assets.
DCM Shriram
The company has commissioned a caustic soda flakes plant of 300 TPD capacity at the chemicals complex in Jhagadia, Gujarat. With this, the total capacity of caustic soda flakes that the Bharuch unit can produce goes up to 900 TPD.
Sheela Foam
Nilesh Sevabrata Mazumdar has resigned as CEO of the company.
Sun Pharma Advanced Research Company
The company has submitted an Investigational New Drug (IND) application with the US Food and Drug Administration (FDA). The IND application supports the next phase of development of SBO-154, which has completed the required IND-enabling preclinical studies with favourable results. A global phase 1 dose-escalation and expansion study has been planned to evaluate SBO-154 in the treatment of solid tumors.
Carborundum Universal
Southern Energy Development Corporation, a subsidiary of the company engaged in the power generation business, has sold a portion of its investments held in the company for Rs 96.50 crore for its business requirements.
Suprajit Engineering
Suprajit has signed Asset Purchase Agreements for the second tranche of the Stahlschmidt Cable Systems (SCS) acquisition, covering assets and certain liabilities of SCS China (Stahlschmidt Zhejiang Automotive Co Ltd) and SCS Canada (Stahlschmidt).
Reliance Industries
As part of internal restructuring, the company has transferred its 100% equity stake in Reliance Projects & Property Management Services (RPPMSL) to Reliance Retail, an 83.56% step-down subsidiary of the company, for Rs 100.4 crore. RPPMSL has ceased to be a wholly owned subsidiary of the company and has become a step-down subsidiary.
Dalmia Bharat
The company's subsidiary, Dalmia Cement (Bharat), has commenced commercial production at its cement grinding unit at Rohtas Cement Works, Bihar, enhancing its capacity by 0.5 MTPA to 1.6 MTPA. With this, the total cement manufacturing capacity of the Group stands increased to 49.5 MTPA.
BSE
The Board has approved the issue of 2 bonus equity shares for every one full paid-up equity share held by the shareholders of the company as on the record date.
GE Power India
The company has completed the sale and transfer of its hydro business on a going concern basis, by way of a slump sale to GE Power Electronics.
LTIMindtree
The technology consulting and digital solutions company announced the expansion of its global strategic partnership with Google Cloud. The company will leverage offerings powered by Google Cloud technology using Agentic AI to boost business growth and redefine the cloud landscape for clients worldwide.
Blue Star
The company has appointed Mohit Sud as Group President, Unitary Cooling Products, effective March 31.
TVS Motor
The company's subsidiary, TVS Motor (Singapore) Pte, divested its stake in ION Mobility Pte for $1.75 million.
Garden Reach Shipbuilders & Engineers
The company has achieved the highest-ever annual turnover of Rs 4,750 crore (provisional & unaudited) for FY25, a growth of 35% over the previous year.
Bombay Burmah Trading Corporation
R. Baskar has superannuated with effect from March 31 and ceased to be the Chief Operating Officer of the electromags division of the company. The Board has approved the appointment of Jeya Harris Naveen as the Chief Operating Officer of the electromags division, effective April 1, 2025.
Newgen Software Technologies
The company has received a purchase order worth Rs 35.3 crore from a customer for the supply, implementation, integration, management, and maintenance of a Centralized Trade Finance (CTF) solution, including a customer web portal. Further, its subsidiary, Newgen Software Technologies Pte, incorporated in Singapore, has executed an agreement worth $1.8 million with a customer. Its subsidiary, Newgen Software Inc, incorporated in the USA, has executed an agreement worth $1.27 million with a customer.
One 97 Communications (Paytm)
The company has received a cautionary email from the National Stock Exchange of India (NSE) and BSE, regarding the delay in submission of intimation of the Schedule of Investors/ Analysts - Earnings Call held on May 22, 2024, for the financial results for the quarter and financial year ended March 31, 2024.
Wendt India
The company has executed the trademark assignment agreement with Wendt GmbH for acquiring the absolute ownership of the Wendt brand and trademarks, with over 60 registrations in 40 countries, owned by Wendt GmbH and/or its affiliates worldwide, for up to 3.8 million euros.
Bulk Deals
Praveg
Sageone Investment Managers LLP has acquired 1.8 lakh shares in the company at an average price of Rs 516.38 per share.
Radiant Cash Management Services
BNP Paribas Financial Markets has acquired 25 lakh shares in the company at an average price of Rs 50.9 per share. However, Ascent India Fund III sold 34.7 lakh shares at an average price of Rs 51.1 per share.
Block Deals
Carborundum Universal
Promoter Southern Energy Development Corporation sold 10 lakh shares in the company to Sheel Commodities, Nemish S. Shah (HUF), and Sandhya G. Parikh at an average price of Rs 965 per share.
Ideaforge Technology
Blue Diamond Properties acquired 10.09 lakh shares in the company at an average price of Rs 344.95 per share from Florintree Enterprise LLP.
Hindustan Aeronautics
Goldman Sachs (Singapore) Pte - ODI acquired 3.85 lakh shares in the company at an average price of Rs 4,176.25 per share from Kadensa Master Fund.
Zomato
Goldman Sachs (Singapore) Pte - ODI acquired 60.07 lakh shares in the company at an average price of Rs 199.5 per share from Kadensa Master Fund.
From hero to zero: 67% of Americans reject Tesla, Musk to blame
Elon Musk
According to a survey conducted by Yahoo News, two-thirds of Americans (67%) now say they would not consider buying or leasing a Tesla The report also highlights that 56% of those individuals attribute their decision to Elon Musk, with 30% citing him as the primary reason and 26% considering him a contributing factor.
That said, the survey involved only 1,677 adults residing in the USA and was conducted from March 20 to March 24. It further revealed that Musk’s popularity has taken a dip since November last year when he started steering his social media platform X rightward and spent a quarter of a billion dollars to help Trump win the 2024 election.
A separate Yahoo News poll conducted during the same period found that 49% of Americans had a favorable view of Musk, while 39% viewed him unfavorably as Trump’s second term approached. However, that has changed in the last couple of months. According to the new Yahoo News survey, just 39% of Americans now have a favorable opinion of Musk while a full 55% have an unfavourable opinion.
Why do Americans dislike Musk?
According to the recent survey, 54% of Americans now believe Musk has “too much influence” over Trump, up from 39% in November. Meanwhile, only 30% feel his influence is “about right,” a drop from 36%. The percentage of those who think Musk lacks sufficient influence (2%) has declined by half from 4%.
The recent poll also highlights a decline in public perception of DOGE under Elon Musk’s leadership. Only 40% of Americans view DOGE favourably, while 44% hold an unfavorable opinion. While nearly half (49%) support the idea of a government agency dedicated to cutting federal spending, only 37% approve of how DOGE is implementing these cuts, with 48% disapproving.
Additionally, 44% believe DOGE is worsening the situation by cutting essential services, compared to 38% who think it is effectively reducing wasteful spending. Musk’s personal reputation is also facing challenges, with 52% of Americans believing he is acting in self-interest rather than for the country’s benefit (36%).
Though opinions on Musk and DOGE are split along party lines, the poll indicates that even some Trump supporters are distancing themselves. While only 12% of 2024 Trump voters disapprove of DOGE’s spending cuts, 20% now hold an unfavorable view of Musk, and 23% believe he has excessive influence over the president — both figures nearly doubling since November.
Tesla’s popularity has also been affected, with the #TeslaTakedown protests making an impact. More Republicans (27%) say they would consider buying a Tesla than independents (19%) or Democrats (8%). However, overall interest remains low, with only 2% of Americans currently owning a Tesla and 18% considering one in the future. Public perception is mixed, as 49% of Americans now view Tesla unfavourably, while 37% have a positive opinion.
Bill Gates says AI will replace humans in most tasks except for these three professions
Bill Gates says AI will replace humans in most tasks except for these three professions
Since OpenAI launched ChatGPT back in 2022, artificial intelligence has reshaped the way we think and do things. For the most part, AI chatbots like Gemini, Copilot, DeepSeek and others are still being used as tools for work, but professionals are concerned as AI might replace several jobs in different sectors.
Last month, Microsoft co-founder Bill Gates predicted that AI would replace humans for most things, and now that the technology is being adopted by organisations worldwide, the multi-billionaire shared more insights on what he thinks will be future-proof in the upcoming years.
While several reports and tech leaders including NVIDIA’s Jensen Huang, OpenAI’s Sam Altman and Salesforce CEO Marc Benioff think coders will be the first ones to lose their jobs in the near future, Gates believes humans will have an important part to play in the process.
The 69-year old also added that AI won’t be able to replace biologists, but serve as an useful tool for doing things like disease diagnosis, DNA analysis as it lacks the creativity for scientific discoveries. Gates also said that AI won’t replace energy experts as the field is still too complex to be fully automated.
India's economy may be about to overtake Japan's, but hold those celebrations
Rising, but then the lights aren't all green for the Indian economy, (File photo)
With real GDP touching $4.3 trillion, the Indian economy leaped from 'Fragile Five' to the fastest fifth in just a decade. But that's no reason to be excited about.
What could instead offer buttery chunks of happiness is that, we are trailing closely behind Japan's $4.4 trillion and can surpass it as the world's fourth-largest economy any moment now.
Ironically though, this milestone isn't entirely because we are pulling the economy by its bootstraps, but because luck is playing a critical role.
Japan is aging poorly and its growth has been stagnant for decades. For instance, in 2015, its GDP stood at $4.4 trillion and is still stuck at $4.4 trillion in 2025. In contrast, India marched purposefully with its GDP rising from a little over $2 trillion in 2014 to $4.3 trillion now.
India's growth is slowing down too as we speak, but even if we manage to sustain the current run-rate of 6%-6.5%, the prospect of overtaking Japan seems to be written in the stars.
For decades, Japan has endured complete economic stagnation barely adding $200 billion worth of output, or less than 0.25% every year from 2000-2019. Its economy contracted 1.3% in the last 10 years, according to IMF's World Economic Outlook 2024.
Historically touted as an economic miracle, Japan rose from the ashes of World War II to emerge as the world's second-largest economy after the US. However, following the financial bubble that began in 1990, it collapsed into the sickbed and remained there for over 30 years now.
Until 2010, it reigned as the world's second-largest, only to be overtaken by China. Finally in 2023, when its economy contracted further, it slipped into the fourth spot falling behind Germany.
In contrast, the Indian economy made a substantial splash during the same period.
Though we got off to a ropy start after Independence, taking as much as six decades to clock our first trillion in 2007, the next milestones were relatively easy. It took just seven years each to double from $1 trillion to $2 trillion in 2014 and to $3 trillion in 2021. Lastly, the Indian economy capped off the next trillion in an even shorter timeframe of four years, notwithstanding black swan events like the Covid pandemic and the Russia-Ukraine war.
With undisguised delight, the government took the applause for outpacing all the nations in the G7, the G20, and the BRICS by more than doubling its size.
According to the IMF, India has doubled its GDP in the past decade, and by growing by 105%, it emerged as the fastest-growing large economy in the world, ahead of the US and China. In fact, it bounced like a spring in the foot during the last decade, overtaking both the UK and France.
In 2015, France's GDP stood at $2.4 trillion, ahead of India's $2.1 trillion GDP. But by 2025, France's GDP stood at $3.3 trillion, while India led the happy way forward, growth it approximately 30% bigger than the French economy.
Likewise, the UK was ahead of India at $2.9 trillion in 2015, but trailed behind with a GDP of $3.7 trillion by 2025.
Moving forward, Asia's third-largest economy is about to mount its white horse and is expected to add $1 trillion every 1.5 years. And as the IMF noted, with the current growth trajectory, India could become $10 trillion by 2032. And should the average growth rate continue and if as they say, one good turn deserves another, India will likely surpass Germany's $4.9 trillion economy -- currently, the world's third largest -- by 2027. Fancy that!
It's likely to emerge as the third largest with a GDP of $5.7 trillion by 2027 and $6.3 trillion by 2029.
Critics, however, warn against betting on such a goal rush and counter that these projections are akin to tossing a coin to see if it'll come down as a head or a tail.
For, both the Japanese and German economies were powered by industrialization. Like Japan in the 1960s-1980s, Germany too roared with its manufacturing prowess, dominating global markets for high-end products like luxury cars and industrial machinery and thrived on exports. India, on the other hand, acutely lacks manufacturing muscle and also needs to get a bent on exports.
Also, despite its impressive growth rates, India is nautical miles behind China. In 2015, its economy stood at $11.1 trillion, more than five times bigger than the Indian economy and the gap has widened since. That said, Chinese economy too has slowed considerably and between 2015 and 2025, when it grew at 77%, slower than India's 105%.
All said, we can warm up to the theme that India will continue to be the fastest-growing major economy in the coming years as well, as acknowledged by the IMF. Its projected 6.5% growth rate in both FY25 and FY26 is higher than all the top-10 world economies. Still, several factors need attention.
For one, the IMF has called for deeper structural reforms, stressing the need for fiscal consolidation, labour market improvements, and trade policy adjustments to boost long-term economic growth. In its latest Article IV Consultation report for 2024, while commending India's economic resilience, it flagged potential risks stemming from geopolitical tensions, inflation volatility, and weak private consumption.
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