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Reading beyond India's GDP optimism: With advanced countries slowing, circumspection would make sense
Reading beyond India's GDP optimism: With advanced countries slowing, circumspection would make sense
India's GDP growth has slowed to 7.2% in fiscal 2023 from 9.1% the previous year, due to sluggish merchandise exports and decelerating advanced economies. The country is expected to grow at 6% this fiscal due to global headwinds, lowering growth in areas such as export-oriented domestic manufacturing, which is being hurt directly by weak exports. Despite the slowdown being felt in the manufacturing sectors, services such as travel, tourism and entertainment remain strong and output grew 9.5% in fiscal 2023.Feedback from the Indian Meteorological Department has recently predicted a normal monsoon season, however activity in the farming and agriculture sectors remains vulnerable.
India's GDP growth has slowed to 7.2% in fiscal 2023 from 9.1% the previous year, due to sluggish merchandise exports and decelerating advanced economies. The country is expected to grow at 6% this fiscal due to global headwinds, lowering growth in areas such as export-oriented domestic manufacturing, which is being hurt directly by weak exports. Despite the slowdown being felt in the manufacturing sectors, services such as travel, tourism and entertainment remain strong and output grew 9.5% in fiscal 2023.Feedback from the Indian Meteorological Department has recently predicted a normal monsoon season, however activity in the farming and agriculture sectors remains vulnerable.
India's GDP growth has slowed to 7.2% in fiscal 2023 from 9.1% the previous year, due to sluggish merchandise exports and decelerating advanced economies. The country is expected to grow at 6% this fiscal due to global headwinds, lowering growth in areas such as export-oriented domestic manufacturing, which is being hurt directly by weak exports. Despite the slowdown being felt in the manufacturing sectors, services such as travel, tourism and entertainment remain strong and output grew 9.5% in fiscal 2023.Feedback from the Indian Meteorological Department has recently predicted a normal monsoon season, however activity in the farming and agriculture sectors remains vulnerable. 
