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Inventories of key raw materials are piling up in China, evidence that economic activity remains too feeble to clear a surplus that’s crushing prices from steel to soybeans.

Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010.

Prime Minister Narendra Modi's claim of India becoming a top-three economy is likely due to population and economic growth, rather than his term. Yet, GDP isn't the sole indicator of well-being. While GDP is significant, economists prioritize economic growth and per capita income. Japan's stagnant economy challenges the idea of GDP as the only measure. Other factors like health, education, and environment, ignored by GDP, define a nation's well-being. India's low rankings in hunger, gender gap, and press freedom highlight the discrepancy. GDP should be supplemented with holistic measures to gauge true progress and citizen benefits.

It is India’s latest move aimed at curbing Chinese imports while boosting local manufacture

Besides economic recovery, the government’s heightened vigil on tax compliance has been contributing to compliance under GST— both in terms of revenue collection and in reporting of transactions.

Pressure continued to come on capacity, prompting firms to expand employment solidly again, a trend that is likely to continue in the months ahead should demand remain strong, S&P said.

Consistent improvement in consumer sentiments despite the inflationary environment, stable corporate performance, and domestic air passenger traffic inching above pre-covid levels augur well for travel and hotel demand.

Business confidence in India has improved in Q2 2019, according to a survey by the Confederation of Indian Industry (CII). The CII's Business Confidence Index increased to 66.1 in Q2, up from 64 in the previous quarter. The survey also found that businesses are optimistic about prospects for fresh private investments, with the majority of respondents expecting the economy to grow at 6-7% this fiscal year. However, concerns were raised over slowing growth in developed economies and geopolitical risks impacting economic growth in the future.