Business
India’s Economic Slowdown Eases, but Goldman Sachs Warns of Lingering Market Volatility
As of March 25, 2025, India’s economy is showing signs of recovery after what many have called its toughest slowdown in years. According to a recent Goldman Sachs report highlighted by ANI News, the worst may be behind us—but don’t pop the champagne just yet. While the nation’s economic engine is revving up again, experts […]
As of March 25, 2025, India’s economy is showing signs of recovery after what many have called its toughest slowdown in years. According to a recent Goldman Sachs report highlighted by ANI News, the worst may be behind us—but don’t pop the champagne just yet. While the nation’s economic engine is revving up again, experts caution that market volatility could stick around like an uninvited guest, keeping investors on edge.
A Light at the End of the Tunnel
For months, headlines have painted a grim picture of India’s economic landscape—sluggish growth, jittery markets, and a sense of unease among businesses and households alike. But Goldman Sachs, a global financial heavyweight, now says the tide is turning. The report, released on March 26, 2025, suggests that India’s economic slowdown has bottomed out, with key indicators pointing to a gradual rebound. Think of it as the moment the rain finally stops, and you can step outside without an umbrella—cautiously optimistic, but still checking the sky.
What’s driving this shift? For one, India’s resilience is shining through. Despite global headwinds like trade tensions and fluctuating commodity prices, the country’s domestic consumption and agricultural sectors are holding strong, acting as pillars of stability. The Reserve Bank of India (RBI) echoed this sentiment earlier this month, noting that consumer spending and rural demand are picking up steam. It’s not a full-on sprint to prosperity, but it’s a steady jog in the right direction.
Volatility: The Unpredictable Guest
Here’s the catch: while the economy might be stabilizing, the financial markets are still doing a bit of a roller coaster dance. Goldman Sachs warns that volatility isn’t going anywhere soon. Why? Global uncertainties—like U.S. tariff threats and geopolitical tensions—are casting long shadows. Closer to home, foreign investors have been pulling funds out since October, sending the Sensex and Nifty into a tailspin from their all-time highs. It’s like trying to enjoy a picnic while the wind keeps blowing your napkins away—frustrating and hard to ignore.
For everyday investors, this means a bumpy ride ahead. Small-cap stocks, once the darlings of the market, have taken a beating, and even blue-chip companies aren’t immune. Analysts suggest that while the long-term outlook for India remains solid, the short-term could feel like navigating a stormy sea. “Volatility persists,” the Goldman Sachs report notes, urging caution for those hoping for a quick market recovery.
What’s Next for India’s Economy?
So, where does this leave us? For the average Indian—whether you’re a farmer in Punjab, a tech worker in Bengaluru, or a shopkeeper in Mumbai—the news is bittersweet. The economy is clawing its way back, which could mean more jobs, better wages, and a little extra cash in your pocket down the line. But if you’ve got money in the stock market, you might want to buckle up and keep an eye on those global headlines.
Goldman Sachs isn’t alone in its mixed outlook. Other experts, like those at Moody’s Ratings, predict India’s growth could top 6.5% in the next fiscal year, fueled by government spending and a rebound in private investment. Yet, they too nod to the “global uncertainty” that could throw a wrench in the works. It’s a classic case of two steps forward, one step back—progress, but with a side of caution.
Navigating the Road Ahead
For now, India stands at a crossroads. The worst of the economic slowdown may be over, but the path to stability isn’t a straight line. Families and businesses alike are watching closely, hoping the recovery takes root while bracing for market swings. As one market analyst put it, “India’s got the fundamentals to shine, but the world’s a messy place right now.”
If you’re an investor or just someone trying to make sense of it all, the takeaway is simple: there’s hope on the horizon, but don’t bet the farm just yet. Keep your eyes peeled for updates—whether it’s the next RBI report or the latest twist in global trade talks. India’s economic story is far from over, and the next chapter promises to be anything but dull.
Business
Less than human, more than lab rat
They are using pluripotent stem cells, which are the earliest cells that form and give rise to every other type of cell in the body. From pluripotent stem cells to actual embryos, it is but a hop, as is embryo to fetus. After all, they also have artificial uterus technology to help.Scientists are researching developing bodyoids — they are not there yet, but well on the way.Welcome to the emerging world of ‘bodyoids’.Writing in MIT Technology Review, Carsten T Charlesworth, a postdoctoral fellow at the Institute of Stem Cell Biology and Regenerative Medicine, is all for it. He says it is possible to even build animal bodyoids for, say, work in agricultural fields, replacing sentient animals. Charlesworth does advocate caution, but stresses that “the opportunity is too important to ignore”.So, in the near future, a biotech company can mass-produce human bodies that medical students can dissect and study, pharma companies can inject with drugs and assess their effect, avoiding putting mice and primates through the misery of drug tests.Some may find the idea of bodyoids exciting, others disturbing, raising ethical questions.Come to think of it, if you can grow organs-on-a-chip, why not an entire human body?Imagine this: An adult human body, lying on a table. It is not alive — it never did have ‘life’. But it has all organs functioning — except the brain. It is not sentient; it can never feel pain or pleasure — it is “experientially blank”. A fully lab-grown zombie, produced for scientific experiments, including drug testing.
More Like This
Published on April 20, 2025
Writing in MIT Technology Review, Carsten T Charlesworth, a postdoctoral fellow at the Institute of Stem Cell Biology and Regenerative Medicine, is all for it. He says it is possible to even build animal bodyoids for, say, work in agricultural fields, replacing sentient animals. Charlesworth does advocate caution, but stresses that “the opportunity is too important to ignore”.They are using pluripotent stem cells, which are the earliest cells that form and give rise to every other type of cell in the body. From pluripotent stem cells to actual embryos, it is but a hop, as is embryo to fetus. After all, they also have artificial uterus technology to help.So, in the near future, a biotech company can mass-produce human bodies that medical students can dissect and study, pharma companies can inject with drugs and assess their effect, avoiding putting mice and primates through the misery of drug tests.Come to think of it, if you can grow organs-on-a-chip, why not an entire human body?Scientists are researching developing bodyoids — they are not there yet, but well on the way.Published on April 20, 2025 Welcome to the emerging world of ‘bodyoids’.Imagine this: An adult human body, lying on a table. It is not alive — it never did have ‘life’. But it has all organs functioning — except the brain. It is not sentient; it can never feel pain or pleasure — it is “experientially blank”. A fully lab-grown zombie, produced for scientific experiments, including drug testing.
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Some may find the idea of bodyoids exciting, others disturbing, raising ethical questions.
Business
Dow Jones, S&P 500, Nasdaq Composite: Equities face a US bond brick wall
The ‘elephant in the room’ here is the US government’s massive debt pile of .2 trillion. The country has been on a spending spree since the global financial crisis, which accelerated when the Covid pandemic hit.The week before last, US 10-year bonds witnessed the worst week since 2001, with yields spiking 50 basis points over the week to 4.5 per cent. Though yields cooled over the week gone by, a new drama surfaced with a brewing feud between President Trump and Fed Chair Powell.First is the refinancing problem. The previous administration ducked the interest rate pressure by issuing short-term bills instead of long-term bonds. While the approach was unsustainable for long, it’s the current administration’s problem to now refinance them with long-term bonds and will add further pressure on yields.
While the Trump administration is determined to bring yields on long-term bonds down, the Fed’s preference to wait and watch given tariff-led upside risks to inflation is playing a brick wall. Last week, Trump said he couldn’t wait to have Powell’s office terminated, while at the same time Powell’s chairmanship is legally well-guarded. The deadlock is a classic case of when an unstoppable force meets an immovable object.
Three factors
Published on April 19, 2025 Decades earlier, Richard Nixon’s Treasury Secretary famously said: “the dollar is our currency, but it’s your problem”.The debt-related problems for Trump administration stem from three factors.Today, the US’ debt to GDP stands at a significant 122 per cent (December 2024). Bond yields shooting up can burn a hole through the Federal Government’s finances, thus explaining Trump and his administration’s fixation on bond yields. In fact, it was the bond tantrum from the earlier week that pushed Trump to swiftly go slow on reciprocal tariffs.
US debt, an equity woe
The third factor is one that is self-inflicted. The policy of the Trump administration, going back and forth, attempts to upend global supply chains and could tarnish the safe-haven status of US Treasury securities and the global reserve currency status of the dollar. This is where trade war blows up into capital wars. Although there is no strong alternative to the US dollar yet, global central banks might turn to other currencies or gold even more. A week ago, speculations were rife in the bond market that China could retaliate by dumping its holdings of US bonds. This was one of the key reasons for the yield to go up the week before last, although the exact reason for the tantrum is still being investigated.Top investment bankers have forecast a 50 per cent/60 per cent probability of a recession. In a globalised economic environment, this means a slowdown in global GDP. This combined with high US bond yields, used as benchmark to price risk assets across the globe, can be a double whammy for equity investors.Investors across the world, including in India, must keep an eye on the US bond market.Two, is the issue of the US government’s addiction to spending, which of course Trump is trying to address with DOGE. While the US fiscal deficit cooled to 5.5 per cent of GDP in 2022 (calendar year) after having skyrocketed to 15.7 per cent of GDP in 2020 due to Covid stimulus, the ratio has now inched back to 6.8 per cent. Even worse, interest outlay of the Federal Government for 2024 surpassed the national defence outlay for the first time in the nation’s history. This reminds of Ferguson’s law – ‘any great power that spends more on debt servicing than on defence, risks ceasing to be a great power’.Similarly, this debt pile of the US and high yields are not only a problem for the US, but one for equity investors across the globe. First, the policies that the Trump administration is trying to implement could result in a stagflation in the US, a period of recession driven by inflated prices.
First is the refinancing problem. The previous administration ducked the interest rate pressure by issuing short-term bills instead of long-term bonds. While the approach was unsustainable for long, it’s the current administration’s problem to now refinance them with long-term bonds and will add further pressure on yields.The third factor is one that is self-inflicted. The policy of the Trump administration, going back and forth, attempts to upend global supply chains and could tarnish the safe-haven status of US Treasury securities and the global reserve currency status of the dollar. This is where trade war blows up into capital wars. Although there is no strong alternative to the US dollar yet, global central banks might turn to other currencies or gold even more. A week ago, speculations were rife in the bond market that China could retaliate by dumping its holdings of US bonds. This was one of the key reasons for the yield to go up the week before last, although the exact reason for the tantrum is still being investigated.While the Trump administration is determined to bring yields on long-term bonds down, the Fed’s preference to wait and watch given tariff-led upside risks to inflation is playing a brick wall. Last week, Trump said he couldn’t wait to have Powell’s office terminated, while at the same time Powell’s chairmanship is legally well-guarded. The deadlock is a classic case of when an unstoppable force meets an immovable object.Decades earlier, Richard Nixon’s Treasury Secretary famously said: “the dollar is our currency, but it’s your problem”.
US debt, an equity woe
The week before last, US 10-year bonds witnessed the worst week since 2001, with yields spiking 50 basis points over the week to 4.5 per cent. Though yields cooled over the week gone by, a new drama surfaced with a brewing feud between President Trump and Fed Chair Powell.Today, the US’ debt to GDP stands at a significant 122 per cent (December 2024). Bond yields shooting up can burn a hole through the Federal Government’s finances, thus explaining Trump and his administration’s fixation on bond yields. In fact, it was the bond tantrum from the earlier week that pushed Trump to swiftly go slow on reciprocal tariffs.Similarly, this debt pile of the US and high yields are not only a problem for the US, but one for equity investors across the globe. First, the policies that the Trump administration is trying to implement could result in a stagflation in the US, a period of recession driven by inflated prices.Investors across the world, including in India, must keep an eye on the US bond market.Top investment bankers have forecast a 50 per cent/60 per cent probability of a recession. In a globalised economic environment, this means a slowdown in global GDP. This combined with high US bond yields, used as benchmark to price risk assets across the globe, can be a double whammy for equity investors.
Business
JSW Italy gets a grant of €33 mn from Italian Govt
The Development Contract intends to revive the historically important industrial site ‘Steelworks of Piombino’, by way of modernisation of the facilities and enhancement of industrial activity. JSW Steel Italy Piombino SPA (JSW Italy), a wholly owned subsidiary of JSW Steel, has signed a Development Contract with the Ministry of Enterprise & Made in Italy, the Tuscany Region and l’Agenzia Nazionale per l’Attrazione Degli Investimenti e lo Sviluppo d’Impresa SPA. The grant is towards the development of the Rail Mill Modernisation Project being implemented by JSW at Piombino at an estimated project cost of €143 million. This project will nearly double the capacity of the Rail Mill from about 0.32 MTPA to 0.6 MTPA which will also enable JSW Italy to enhance the length of the rails being made at JSW Italy from 108 meters to up to 120 meters. Published on April 18, 2025 As per the contract, JSW Steel Italy Piombino S.P.A. is being provided a grant of €33 milion from the Italian Government.
The Development Contract intends to revive the historically important industrial site ‘Steelworks of Piombino’, by way of modernisation of the facilities and enhancement of industrial activity. The grant is towards the development of the Rail Mill Modernisation Project being implemented by JSW at Piombino at an estimated project cost of €143 million. This project will nearly double the capacity of the Rail Mill from about 0.32 MTPA to 0.6 MTPA which will also enable JSW Italy to enhance the length of the rails being made at JSW Italy from 108 meters to up to 120 meters. Published on April 18, 2025 JSW Steel Italy Piombino SPA (JSW Italy), a wholly owned subsidiary of JSW Steel, has signed a Development Contract with the Ministry of Enterprise & Made in Italy, the Tuscany Region and l’Agenzia Nazionale per l’Attrazione Degli Investimenti e lo Sviluppo d’Impresa SPA. As per the contract, JSW Steel Italy Piombino S.P.A. is being provided a grant of €33 milion from the Italian Government.
Less than human, more than lab rat
Dow Jones, S&P 500, Nasdaq Composite: Equities face a US bond brick wall
JSW Italy gets a grant of €33 mn from Italian Govt
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