India 3rd Largest Bank Believes Growth Will Turn Corner

Economic growth in Asia’s third largest economy has bottomed out, the managing director of India’s largest bank, HDFC, told CNBC.

On Monday India kicked off its hotly anticipated Lok Sabha elections, set to be the largest democratic elections in history with 814 million people expected to take to the ballot boxes.

Many industry watchers are hoping the election will invigorate India’s beleaguered economy by providing more certainty and boosting sentiment. Growth fell to 4.7 percent on year in the three months to December 2013 and the government is forecasting 5 percent growth for the fiscal year 2014, a far cry from the near 9 percent expansion in the fiscal year 2011.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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, 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