India Set to Retain Fastest Growing Economy Tag

India probably gathered momentum to hold its ranking as the world’s fastest growing large economy in the quarter through March, giving Prime Minister Narendra Modi more to celebrate after completing two years in office last week.

Modi swept to power promising to revitalise Asia’s third-largest economy and, despite a dearth of private investment and shrinking exports, his policies are having some success as cooling inflation and lower interest rates have boosted consumer demand.

A Reuters survey of economists expected data out on Tuesday will show India’s gross domestic product INGDPQ=ECI grew 7.5 percent year-on-year between January and March, faster than the previous quarter’s 7.3 percent.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.