China’s consumer-led growth model has failed: Former Morgan Stanley Economist

IANS | June 29, 2026 5:30 PM

New Delhi, June 29 (IANS) China’s retail sales fell 0.6 per cent year‑on‑year in May 2026 after a weak April, marking the first monthly decline in three and a half years, Stephen Roach, former Chief Economist and Asia Chair, Morgan Stanley, wrote on his Substack account, arguing that the country's prolonged effort to steer toward consumer‑led growth has failed.

India’s industrial growth accelerates to 5.1 per cent in May

IANS | June 29, 2026 5:06 PM

New Delhi, June 28 (IANS) India's industrial production clocked a 5.1 per cent growth in May this year compared to the same month of the previous year on the back of a strong growth in the manufacturing sector and a surge in the electricity & gas supply sector during the month, according to the new series data released by the Ministry of Statistics on Monday.

Pakistan's investment-to-GDP ratio falls to record low 13.1 pc: Report

IANS | June 29, 2026 4:57 PM

New Delhi, June 29 (IANS) Pakistan's investment-to-GDP ratio has fallen to a historic low of 13.1 per cent in 2024 from an average of around 18 per cent over nearly four decades, while foreign direct investment (FDI) has halved to 0.5 per cent of GDP, a report has said.

Govt invites proposals to reduce import dependence in medical devices

IANS | June 29, 2026 4:29 PM

New Delhi, June 29 (IANS) The Department of Pharmaceuticals has invited applications under the Scheme for Strengthening of Medical Device Industry (SMDI) to promote domestic manufacturing, reduce import dependence, support innovation and increase the depth of value chains in the medical devices sector, an official statement said on Monday.

BPCL to acquire 40 pc stake in Tiki Tar and Shell India for Rs 85 crore

IANS | June 29, 2026 3:56 PM

New Delhi, June 29 (IANS) State-owned Bharat Petroleum Corporation Ltd (BPCL) on Monday announced that it will acquire a 40 per cent stake in Tiki Tar and Shell India Pvt Ltd (TTSIPL) for Rs 85 crore to strengthen its presence in the rapidly growing value-added bitumen (VAB) market.