India's Finance Ministry warns of a 2024 recession due to uncertainties like higher food and energy prices. October saw a record trade deficit from increased imports and decreased exports. Despite strong rural demand and a positive services sector, inflation is a concern. The ministry anticipates controlled inflation with falling crude oil prices. Private consumption drives growth, reinforced by the festive season. The impact of monetary policy on domestic demand is acknowledged. A recession, defined as two consecutive quarters of negative GDP growth, is a looming concern.
Will Indian startups raise more funding in
2024 as compared to 2023?
In 2023, 980 startups raised over $11 billion, with $8.8 billion in growth stage deals and $2.5 billion in early-stage funding. Two new unicorns, Zepto and InCred, emerged. Funding declined from $25 billion in 2022. Top fundraisers were PhonePe, Flipkart, and Lenskart. Monthly funding dipped below $500 million three times. DMI Finance and Ola Electric also featured in the top 5. The top 10 included Udaan, Byju’s, Zepto, Perfios, and GreyOrange.
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