Biz Updates: GDP growth rate may be 6.4 percent in 2025-26; services exports will be worth one trillion dollars by 2030

New Delhi| India’s gross domestic product (GDP) growth rate could be 6.4 per cent in 2025-26 and 6.3 per cent in 2026-27 amid global uncertainties. Rating agency Fitch has cut GDP growth projections for 2024-25 and 2025-26 by 0.10-0.10 per cent to 6.2 per cent and 6.4 per cent respectively amid fears of a global trade war. The agency has kept the growth forecast for 2026-27 unchanged at 6.3 percent. Fitch has also reduced global growth projections for 2025 by 0.4 percent. Growth projections for China and the US have been cut by 0.5 per cent. It is difficult to predict US trade policy with confidence. Business investment prospects are suffering due to policy uncertainty.

Services exports will be worth one trillion dollars by 2030
Services exports from India have increased significantly in the last decade. Its value will reach one trillion dollars by 2030, despite growing protectionism and continued global economic turmoil. Economist Sandeep Venpati said, exports are an integral part of any economy and have importance for a large and developing economy like India. Exports promote global competition and innovation. Creates opportunities to earn income. Raises the standard of living. Between 2013 and 2023, world exports increased from $23.5 trillion to $31.1 trillion.

TCS investigation begins in America over discrimination against employees
Indian IT company Tata Consultancy Services (TCS) has discriminated against employees in America on the basis of caste, age and national origin. This started during the President Biden administration and continued during Trump’s tenure. The U.S. Equal Employment Opportunity Commission is investigating these allegations by dozens of U.S. workers. The former employees who have accused TCS of the above are over the age of 40 from a non South Asian ethnic background. It is alleged that the company targeted them for layoffs, but did not tease Indian personnel, some of whom were working on H-1 B skilled worker visas. All of them filed a complaint against TCS in late 2023. The TCS spokesperson said, the allegations of illegal discrimination are baseless and misleading.

BlueSmart’s services are currently halted after SEBI order
The services of electric cab service company BlueSmart are not working in Delhi-NCR, Bangalore and Mumbai. Market regulator SEBI has taken action against the company’s founder over alleged misuse of funds in the company. This action has been taken against Gensol promoter Jaggi brothers and the company. The BlueSmart app provides over 8,000 taxis in all three metros. It stopped taking bookings on Wednesday evening and continued on Thursday also. Due to the ban, the livelihood of thousands of drivers is in danger. Customers have expressed their displeasure on social media. The company told customers, we have decided to temporarily stop booking on the BlueSmart app. Customers whose money is lying in the app will be given back in 90 days.