- Buoyed by rising manufacturing output, India’s economy grew by 7.4% in the third quarter compared with the same three months last year. Buffered by financial gales two years ago, India is now the best performer among the BRICS economies, outpacing China’s growth rate of 6.9% in the third quarter. Inflationary pressures have receded, but reforms intended to streamline taxes, such as introducing a national sales tax, have stalled in parliament.
Please see below selected recent intelligence about India. This is a synthesis of major recent developments at corporates, business schools, thinktanks, media, commentators, and other key influencers.
- Real GDP growth in India accelerated to 7.9% year on year in January-March, the fourth quarter of fiscal year 2015-16, according to data released by the Central Statistical Office. In 2015-16 GDP grew by 7.6% on an expenditure basis, up from 7.2% in the previous year. Although the latest statistics show robust growth momentum, scepticism over underlying growth components - particularly manufacturing - continues. Still, the Economist Intelligence Unit expects the rate of economic expansion to accelerate in India in 2016-17, thanks to rising private consumption.
India is set to become the world's fifth largest consumer market by 2025, providing significant opportunities for consumer business companies, says a new Deloitte study, 'Consumer 2020: Reading the signs'.
Non-meat eaters help the planet through "climate mitigation", according to a politician.