Toss The Coin Limited Management Discussions

A) Global Economy:

The global economy in 2025 is expected to see a slight increase in growth compared to previous forecasts, but persistent uncertainty and downside risks remain. Global growth is projected at 3.0 percent for 2025, with a further increase to 3.1 percent in 2026, according to the International Monetary Fund. However, other sources indicate a slowdown, with some projecting growth as low as 2.3 percent. Heres a more detailed breakdown:

a) Positive Factors:

i) Slight Growth Revision: The IMF revised its global growth forecast upward, citing factors like front-loading ahead of tariffs, lower effective tariff rates, improved financial conditions, and fiscal expansion in some major economies

. ii) Emerging Markets: Emerging markets and developing economies are expected to grow at a faster pace than advanced economies.

iii) Indias Rise: India is projected to be the worlds fastest-growing major economy, potentially becoming the 4^th largest global economy in 2025, according to PIB (Press Information Bureau).

iv) South-South Trade: Increased trade among developing countries (South-South trade) is seen as a source of resilience

. b) Negative Factors and Risks

: i) Slowdown Concerns: Some sources, like the World Bank, suggest a significant slowdown, with growth projected at 2.3 percent in 2025.

ii) Trade Tensions and Uncertainty: Heightened trade tensions and policy uncertainty remain key risks to global growth.

iii) Inflation: While global inflation is expected to fall, US inflation is predicted to stay above target.

iv) Weakening Trade: Merchandise trade dynamism is expected to fade, and some forecasts predict a significant drop in global trade.

v) Policy Uncertainty: The World Bank highlights the potential for growth to be even lower if trade restrictions escalate or policy uncertainty persists

. c) Key Points to Consider:

i) Diverging Forecasts: There is a divergence in growth forecasts, with some predicting a stronger outlook than others.

ii) Geopolitical Risks: Geopolitical tensions and conflicts pose a significant threat to global growth

. iii) Policy Responses: The effectiveness of policy responses to these challenges will be crucial in shaping the global economic landscape in 2025. In summary, the global economy in 2025 is facing a mixed outlook, with some positive signs of growth but also significant downside risks and uncertainties. The extent to which these risks materialize and how effectively policies are implemented will determine the ultimate trajectory of the global economy.

B) Indian Economy:

In 2025, the Indian economy is projected to remain the fastest-growing major economy globally, with a GDP growth rate of 6.2% to 6.8%. This growth is expected to be driven by strong domestic demand and a more benign global environment. India is also projected to become the worlds fourth-largest economy, reaching a $4 trillion milestone.

a) Key Highlights:

i) Fastest-Growing Major Economy: India is expected to maintain its position as the fastest-growing major economy, with projected GDP growth rates between 6.2% and 6.8%.

ii) $4 Trillion Economy: India is on track to become a $4 trillion economy in 2025.

iii) Strong Domestic Demand: Continued growth is anticipated due to robust domestic consumption and investment.

iv) Global Positioning: India is expected to solidify its position as a major global economic player, driven by domestic reforms and its vision of "Aatmanirbhar Bharat" (self-reliant India).

v) Exports Surge: Exports are projected to increase, particularly in engineering goods, electronics, and pharmaceuticals, as well as in services.

vi) Digital Transactions: Digital transactions, especially through UPI, are expected to continue their rapid growth

. vii) Inflation Management: Efforts to manage inflation are expected to keep it within a reasonable range, with retail inflation potentially falling to 4.6%.

b) Factors Driving Growth:

i) Domestic Reforms: Government policies and reforms are expected to support economic expansion.

ii) Global Economic Conditions: A more favorable global environment, including a weaker US dollar and improved financial conditions, is anticipated to benefit India

. iii) Digital Revolution: The ongoing digital transformation is expected to boost productivity and efficiency across various sectors.

iv) Infrastructure Development: Investments in infrastructure projects are expected to contribute to economic growth.

c) Potential Challenges:

i) Global Trade Uncertainties: While the global environment is expected to be more benign, uncertainties related to trade and geopolitical tensions could still pose challenges.

ii) Inflation Management: Maintaining inflation within the desired range will require careful monitoring and policy interventions.

iii) External Demand: A slowdown in global growth could impact Indias export performance.

	By Order of the Board of Directors
		For M/s. Toss The Coin Limited
Place: Chennai
Date: 16.08.2025
	-SD-	-SD-
	Narayanan Jayan	Reshma Budhia
	Chairman cum	Whole Time Director
	Managing Director	cum CFO
	DIN: 08893678	DIN: 08893679