India Posts 7.3% Growth in Last Quarter of 2015

India has once again posted growth of more than 7%, securing its standing as the world’s fastest growing major economy.

Official data released Monday showed GDP grew at an annual rate of 7.3% in last three months of 2015, a tad weaker than the previous quarter but in line with forecasts.

The country’s manufacturing sector is booming, and the Indian government is forecasting GDP growth of 7.6% for the current financial year ending March 31 — a much faster pace than China will deliver.

India is getting a big boost from cheap oil but will have to enact significant reforms to sustain growth at this pace. Many analysts are now concerned that Prime Minister Narendra Modi may not be able to push his policy agenda through a fractured legislature.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza