India’s Economic Adviser: Economic growth set to bounce back from over six-year low

Dhwani Mehta FXStreet

Indian economic growth is likely to rebound from more than a six-year low of 4.5% in the July-September quarter, Sanjeev Sanyal, principal economic adviser at the Indian Finance Ministry told Reuters on Tuesday.

Key Quotes (via Reuters):

Economic growth was set to accelerate to 6% in the financial year beginning in April, compared with an estimated growth of 5.0% in the current one.

Dismisses the conservative estimates and said his numbers took into account early signs of recovery in manufacturing and a pick-up in consumer demand.

There is enough space for the central bank to further cut interest rates, however, as inflation was likely to ease following a fall in vegetable prices.

While there was a slowdown, this slowdown has by and large now bottomed out, and if anything from here on, growth is going to go up.

Source: RBI targeting inflation at 4%, food prices a concern - Reuters

White House: US Pres. Trump to visit India on Feb. 24-25 - Reuters

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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