Manufacturing sector a major disappointment as it contracted 1.1% in Q3. Services such as tourism, transport & communications saw strong growth in this quarter.
Analysis of industrial & consumer data not included in usual ‘high-frequency indicators’ shows although demand seems to have recovered from pandemic, it remains weak.
Absence of basic data, such as census, harms the country's statistical system & policy analysis. In such a scenario, CMIE, CRISIL, Skymet have become reliable sources for quality data.
The government has revised its GDP growth estimate for 2021-22 to 8.7 per cent on account of economic disruptions caused by the Covid-19 pandemic and spike in inflation.
Demand during the festive season has helped keep momentum rolling. Data due 30 November will probably show July-September GDP grew 8.2% from a year ago.
If we compare Indian states to India’s neighbourhood, we find that only Goa, Sikkim, and NCT of Delhi have a GDP per capita higher than China’s GDP per capita of $16,772.
India's economy could contract by around 1% in the Q4 if one takes into account the revised full year GDP numbers for the current fiscal. For the full year, NSO forecasts steeper contraction of 8%.
Construction, manufacturing, mining & services industry like hotels and transportation are to be the worst hit, says first advance GDP estimate released by the National Statistical Office.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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