PM Modi releases Big Bang Numbers on Indian economy

New Delhi, Aug 6 (IANS) Prime Minister Narendra Modi on Tuesday released the Big Bang Numbers on the Indian economy as part of his Bi-Weekly Bharat newsletter for the fortnight of July 15-31 on the Namo app.

The newsletter highlighted that India’s market cap has hit a record $5.5 trillion while the construction of the world’s highest tunnel was launched by the Prime Minister at Shinkun La on the state boundary between Ladakh and Himachal Pradesh.Some highlights also include:*Indian MSMEs created over 20.5 crore jobs in 4 years while 39 per cent of MSMEs in the country are now owned by women.*1.4 lakh recognised startups generating 15.5 lakh jobs.*Employment in India rose by 35 per cent to 64.33 crore over the last six fiscal years*The manufacturing sector (formal and informal entities) saw an 85 lakh employment opportunities increase from 2017-18 to 2022-23.*India’s exports grew by 5.5 per cent to $21.2 billion, resulting in a trade surplus of $300 million. Exports are now all set to surpass $800 billion this fiscal year. In June, India’s electronic goods exports rose 16.9 per cent to $2.82 billion.*In Q1 2024-25, Apple iPhone exports reached $3.8 billion, 79 per cent of India’s FOB value.*India’s trade deficit has narrowed to $20.98 billion in June from $23.78 billion in May.*India’s outward (FDI) commitments rose to $2.14 billion in June 2024, compared to $1.14 billion in June 2023.*India Inc. raised Rs 32,619 crore from overseas bonds in 2024. FPI infused Rs 30,772 crore into Indian markets.*India’s card payments market is set to surge 11.3 per cent in 2024, reaching Rs 28.4 trillion.*GCCs completed 6,667 leasing deals, marking a 16 per cent increase in India.*About 6 crore ITRs were led for FY24; 70 per cent under the new tax regime.*Domestic air passenger traffic rose 5.76 per cent to 13.2 million in June from 12.4 million last year.*Automobile retail sales rose 9 per cent in Q1 FY25 to 6.2 million units, up from 5.7 million units in Q1 FY24.*Porsche India sales grew by 40 per cent in the January-June period. From 2018-2023, BMW India set records in H1 2024 with 7,098 cars, 3,614 bikes, and 2,000 EVs.–IANSsps/dan