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Indian Economic Growth Lowest in 10 Years

ndia’s economy grew at its slowest pace in a decade during the 2012-13 financial year, figures show.

The economy grew by 5% over the year, after having grown at an annual pace of 4.8% in the January-to-March quarter.

India was recording annual growth of 9% until two years ago, but in recent months it has seen a sharp decline blamed on a slowdown in its manufacturing and services sectors.

Foreign investors have also kept away due to delays in key reforms.

Continue reading the main story
Fewer jobs in sluggish economy

Engineering graduate Viraj Modi finished university last year and is now set to leave the country.

One factor is India’s weakening job market.

“Companies now want a perfect candidate. Because of the global recession they are cutting down the job opportunities.”

Falling orders and fewer jobs
According to the latest figures released by the ministry of statistics, India’s manufacturing sector grew at an annual pace of 2.6% during the latest quarter while farm output rose by just 1.4%.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza 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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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
Alfonso Esparza

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