The Week In Charts: Fitch's Growth Bets, Unrest In Nepal, Iphone Air Unveiled

(MENAFN- Live Mint)

This week Fitch Ratings upgraded GDP growth projections for India and other countries, Nepal's youth led mass protests over corruption, Apple launched the ultra-slim iPhone Air, and poll-bound Bihar received an infrastructure boost.

Fitch upgrades growth forecast

Fitch Ratings has raised India's FY26 growth forecast by 40 basis points (bps) to 6.9% on Wednesday, citing stronger momentum in the services sector and resilient household and government spending. India wasn't the only country to receive a GDP growth upgrade. Fitch also increased its 2025 world growth estimate to 2.4% from 2.2% in June, though this still means a slowdown from 2.9% growth last year. China's growth forecast for 2025 was also increased by 50 bps to 4.7%.

Nepal in flames

Nepal is facing a serious political crisis, with youth-led protests over corruption, nepotism and a controversial social media ban in which several people have lost their lives. Amid the turmoil, India is taking a cautious 'wait-and-watch' approach as experts warn prolonged instability could disrupt supply chains and exports, Mint reported.

Also Read | Cause and defect: Economic embers had a major role in Nepal's eruptio

The two countries have a cordial trade relationship, with India being Nepal's largest export destination. Data shows a persistent trade gap, with India exporting far more to Nepal than it imports, creating a substantial trade surplus in India's favour.

Size-zero iPhone

₹1.2 lakh: The price of Apple's new iPhone Air in India. It marks the first new iPhone design from the company in five years, following earlier experiments such as iPhone Mini and iPhone Plus. The latest edition has an ultra-thin 5.6-mm body and the A19 Pro processor. Launched alongside the iPhone 17 lineup, the phone mirrors Samsung's Galaxy S25 Edge in looks and price. Slim phones are rare owing to engineering and battery constraints, but Apple's move could prompt a shift to thinner form factors.

Also Read | Is Apple's iPhone Air bringing slim phones back in style

Food inflation risk

Heavy rains in early September raised the risk of crop damage across major agricultural states. In the week to 3 September, rainfall deviations from normal touched 453.8% in Punjab, 325.2% in Chandigarh and Delhi, 284.8% in West Rajasthan, 151.5% in East Rajasthan and 173.8% in Telangana.

According to a report by Crisil, Punjab faces up to 10% losses in sugarcane and paddy and over 10% in cotton and cauliflower, while other states risk damage to paddy, cotton and vegetables. The crop damage could cause prices to spike in the coming months but Goods and Services Tax (GST) cuts may reduce the pressure.

India's costly coaching culture

For decades, private education has offered an alternative to the struggling government system for those who can afford it. Data from 'The Comprehensive Modular Survey: Education (April-June 2025)' shows private schooling is significantly costlier, particularly at the pre-primary, primary, and middle-school levels.

Private coaching, or shadow education, adds substantially to this expense. A Mint analysis foujnd that coaching, on average, can add additional costs amounting to about a fifth of total school spending. This rises to almost a third at the higher secondary level. For instance, if the average school education cost per student is ₹20,133, private coaching alone amounts to ₹6,384 at the higher secondary level.

Government's infra boost

₹7,616 crore: The amount approved by the union cabinet for infrastructure projects in Bihar, Jharkhand and West Bengal. The plan includes a ₹3,169-crore project to double the 177-km Bhagalpur-Dumka-Rampurhat railway line, and an 82-km, four-lane highway connecting Buxar and Bhagalpur at a cost of a ₹4,447 crore.

These projects aim to ease congestion, boost freight by 15 million tonnes a year, and reduce oil imports and carbon dioxide emissions. Since the start of the National Democratic Alliance's third term, infrastructure projects worth ₹10.94 trillion have been cleared, Mint reported .

Chips ahoy

India's ambition to become a semiconductor superpower is set to receive the much-needed support from the government, which is working on a $20-billion package to boost the chip and fab ecosystem, Mint reported. The electronics ministry has submitted the proposal to the finance ministry, with an approval expected by October, before it goes to the union cabinet.

Also Read | Tata's $11 billion chip bet faces rare earth supply hurdle

The plan involves developing advanced chip fabrication plans (fabs), and a five-fold expansion of the design-linked incentive scheme to build a full-stack semiconductor ecosystem.

Chart of the week: India's billionaire ministers

As many as 36 union and state ministers are rupee billionaires, with declared assets of ₹100 crore or more, according to an analysis of election affidavits by the Association for Democratic Reforms. Karnataka leads with 26% billionaire ministers, followed by Andhra Pradesh at 24% and Maharashtra at 10%.

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