On October 30, 2025, Indian benchmark indices, the Sensex and Nifty50, closed sharply lower, influenced by weak global cues. The US Federal Reserve's decision to cut interest rates, coupled with indications that this might be the last cut of 2025, dampened investor sentiment globally. The BSE Sensex fell by 592.67 points (0.7%) to 84,404.46, while the NSE Nifty50 slipped 176.05 points (0.68%) to 25,877.75. Financial services and IT shares were among the top laggards, with Bharti Airtel, PowerGrid, Tech Mahindra, Infosys, and Bajaj Finance experiencing significant losses. In contrast, L&T, Bharat Electronics, Ultratech, and Maruti Suzuki were among the gainers.
Adding to market concerns, the Indian Rupee (INR) has witnessed significant weakening in 2025, losing approximately 3.1% against the US Dollar until October 28, 2025. This depreciation is primarily attributed to a sharp decline in capital inflows, including lackluster Foreign Direct Investment (FDI) and substantial Foreign Portfolio Investment (FPI) outflows of around $16 billion from the start of 2025. Net FDI inflows have been particularly low, dropping from annual figures of $40-45 billion between FY20-22 to just $1 billion in FY25. Despite this, India's economic fundamentals, such as a projected GDP growth of around 6.5% for the full year, inflation well below the RBI's 4% target, and robust foreign exchange reserves, remain strong.
Looking at the long-term economic outlook, India's Commerce and Industry Minister Piyush Goyal, during the Berlin Global Dialogue, reiterated his projection that India will become a $30 trillion economy in the next 20-25 years. An analysis suggests this projection is "quite valid," considering India's nominal GDP has registered a compounded annual growth rate (CAGR) of 11.9% since the financial year 2000. If this growth rate and the historical rupee depreciation trend continue, India's GDP could indeed exceed $30 trillion by 2048.
The Chief Economic Advisor (CEA), V. Anantha Nageswaran, also provided an optimistic assessment, stating that the Indian economy is performing better than initially feared and is likely to achieve growth exceeding 6.7% in the current financial year (FY25). This positive outlook is supported by fiscal discipline, tax reforms, and stable inflation.
In other significant economic news, Telangana has emerged as India's fastest-growing service economy, according to a NITI Aayog report. The state's service sector contribution to the national economy increased by an impressive 10% between 2011 and 2024, placing it third among all states in terms of Gross Value Added (GVA) from services. This growth is largely driven by Hyderabad's thriving IT, financial, and knowledge-based industries.
Furthermore, Commerce and Industry Minister Piyush Goyal announced significant progress in talks with the European Union (EU) towards a Free Trade Agreement (FTA), with 10 out of 20 chapters concluded and 4-5 more "broadly decided." India's exports to the EU in the last financial year stood at $82 billion. In international trade relations, India also secured a six-month waiver from the U.S. sanctions on Iran's Chabahar port.
Several companies also reported their quarterly results. PB Fintech, the parent company of Policybazaar, saw its Q2 profit jump by 165% to ā¹135 crore, with revenue growing 38% year-on-year. Radico Khaitan posted a 73% rise in consolidated net profit to ā¹139.56 crore, and DCM Shriram reported a 2.5x jump in consolidated net profit to ā¹158.72 crore for Q2. NTPC Green Energy's net profit rose by 131.6% year-on-year to ā¹88 crore. Container Corporation of India (CONCOR) signed an MoU with Jawaharlal Nehru Port Authority (JNPA) to manage rail handling operations at the upcoming Vadhvan Port.