Economy – Blog Category

India has emerged as the fourth-largest economy in the world by nominal GDP, overtaking Japan—a historic moment that underlines the shifting axis of global economic power. As per the IMF’s April 2024 World Economic Outlook, India’s GDP stood at $3.73 trillion, ahead of Japan’s $3.67 trillion.

India and Oman are close to finalizing a landmark Free Trade Agreement (FTA) that could recalibrate economic ties between South Asia and the Gulf. Talks, which began in earnest in May 2023, are now down to resolving one final issue: Oman's policy of "Omanisation," which aims to prioritize local employment.

After years of economic brinkmanship, the US and China have agreed to a 90-day suspension of additional tariffs, signaling the first serious step toward de-escalating a trade war that has distorted global markets and eroded trust in the rules-based trading order. While this is not a final resolution, it’s a critical economic breather for two superpowers under increasing pressure from their slowing economies. But what lies ahead for global markets, and more importantly, how does India position itself in a world where giants pause rather than pull out?

India's services sector showed resilience in April 2025, with the S&P Global Services Purchasing Managers’ Index (PMI) climbing to 60.8, up from 61.2 in March. While the figure remains comfortably above the 50-mark that separates growth from contraction, the real surprise came from another corner: business confidence slumped to its lowest level in two years.