Perspective On GDP Data By Mr. Nish Bhatt, Millwood Kane International
Below the Perspective on GDP Data By Mr. Nish Bhatt, Founder & CEO, of Millwood Kane International
India GDP growth rose to 7.6% in July-September quarter, beating street estimate of 6.8%, and maintaining its status as the fastest-growing major economy in the world.
This growth has outperformed RBI's projection of 6.5%, largely propelled by robust consumption, increased government expenditure and vigour in service activity and urban demand, despite the challenges posed by geopolitical issues and the global economic downturn affecting export growth. Notably, in the quarter, sectors like oil and gas, automobiles, and construction have shown substantial increases in profitability.
However, we believe that the impact of climate change and erratic rainfall, the possible slowdown in capex as we approach the general elections, lower external demand due to geopolitical risk and global slowdown might translate into lower GDP growth in coming quarters.”
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