The recent growth number for the second fiscal quarter, has put a dent on the optimism towards India as experts question what lies ahead.
This report is from this week's CNBC's"Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise.
on the back of an exponential rise in the prices of vegetables, a staple in most Indian households. Vegetable prices surged 42.2% from a year ago in October, having risen by 36% in September. Overall credit growth, which"drives GDP" according to Macquarie analysts, stood at approximately 11% in the September quarter, slower than a 16% expansion a year ago, the analysts added.The benchmark Nifty 50 index has risen modestly since the GDP release and is up 13.7% since the start of the year. For comparison, theThe Reserve Bank of India, which announces its latest rate decision on Friday, is also expected to keep interest rates steady.
Investors hoping for the Indian growth story to remain intact would be betting on avoiding a sequel to the September numbers.At an event on Saturday, the founder of Adani Group said that the company upholds an"absolute commitment to world class regulatory compliance," though he didn't elaborate on that assertion.
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