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

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam