Reasons India’s Recovery is Real

After two years of stagnation, things are finally looking up for Asia’s third largest economy.

India, referred to by some as Asia’s sleeping giant, has seen gross domestic product (GDP) growth rates stuck below 5 percent for 8 straight quarters, damping hopes of an economic revival. However, a pickup in economic activity over the past three months is restoring optimism around the country’s outlook.

In a report released this week, Morgan Stanley outlined five key indicators that show growth is bottoming out: Industrial production was better than expected for a second straight month in May, exports saw double-digit growth for a second consecutive month in June, non-oil, non-gold imports, an indicator of domestic demand, recorded positive growth for a second straight month in June, medium and heavy commercial vehicles sales growth turned positive for first time in 27 months in June, and petroleum products consumption growth stood at a 17- month high in June.

CNBC

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.