Special
We forecast economic growth in India of 5.1% for fiscal year 2019/20 and 5.7% for 2020/21. Although we expect the economy to have bottomed out, ongoing structural issues are expected to weigh on India’s medium- and longer-term growth potential.
Special
BJP’s unexpected sweep of India’s general elections means that Prime Minister Modi has a clear mandate to follow through on its reform agenda. However, we believe his government will struggle to push through more difficult reforms, such as labour market and land reforms, which are much needed to lift the country’s growth above 7%.