The Reserve Bank of India (RBI) conducted a dollar-rupee buy/sell swap for $5 billion on Friday, with the transaction to be reversed on August 4. The RBI received bids worth five times the notified amount at $25.6 billion.
Global roles within Global Capability Centres (GCCs) in India are set to grow to 30,000 by 2030, reflecting India's shift from a low-cost destination to a hub of innovation. Leveraging its vast talent pool, India now constitutes 28% of the global STEM workforce. GCCs have matured into high-end engineering roles, with significant growth and expansion expected.
Prime Minister Narendra Modi shared significant insights from the Economic Survey, highlighting major growth in non-fossil fuel power generation, global services share, private spending, and credit for small farmers. Additionally, India witnessed substantial growth in highway development, women's patent filings, and improved rural power supply over the past decade.
