Page 29 - Policy Economic Report_Mar'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

enhancing the skills of its population, such as the National Skills Development Corporation (NSDC),
which helps bridge the gap between the demand for skilled professionals and the available talent pool.

December
Market Capitalization

The BSE stock market capitalization to GDP ratio stood at 136%, significantly higher than that of China
(65%) and Brazil (37%), reflecting a robust equity market relative to the size of the economy. The total
resource mobilisation from primary markets (equity and debt) stands at ?11.1 lakh crore from April to
December 2024, five per cent more than the amount mobilised during FY24.

India Manufacturing PMI- Strongest growth rate for past 4 months

The HSBC Flash India Composite Output Index – a seasonally adjusted index that measures the month
on-month change in the combined output of India's manufacturing and service sectors registered 60.7 at
the end of the 2024 calendar year. Rising from a final reading of 58.6 in November, the latest reading
highlighted the strongest growth rate for four months. There were quicker increases in output at both
goods producers and service providers. Demand for Indian goods and services continued to improve in
December, as seen by a sharp increase in new orders that was the most pronounced since July 2024.

November
India leads climate action indicatives at CoP29 UN Climate Change Conference in Baku
India collaborated with various agencies to organize side events on several aspects of climate action
during the CoP29 UN Climate Change Conference at Baku, Azerbaijan, from 11th-22nd November, 2024.
India participated in these side events and shared experiences/initiatives to deal with the climate
challenges. The important side events include - Integrating Disaster Resilient Infrastructure into the
Adaptation Strategies; India-Sweden Industry Transition Partnership (ITP); Energy Transitions for the
Global South: Unleashing the role of solar for the global south.

India’s renewable capacity reaches 203 GW, solar grows 28%: MNRE

According to the Central Electricity Authority, the total renewable energy-based electricity generation
capacity now stands at 203.18 GW. India's total renewable energy installed capacity surged by an
impressive 24.2 GW (13.5%) in just one year, reaching 203.18 GW (46.3% of the country’s total installed
capacity) in October 2024, up from 178.98 GW in October 2023. Additionally, when including nuclear
energy, India's total non-fossil fuel capacity rose to 211.36 GW in 2024, compared to 186.46 GW in
2023.

October
India’s forex reserves remain resilient

India's forex reserves stand at $ 690 billion as of 11th October, 2024 according to RBI. According to the
Weekly Statistical Supplement released by the RBI, foreign currency assets (FCAs) fell by $10.5 billion to
$602 billion. Gold reserves decreased by $98 million, bringing the total down to $65.6 billion. The

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