India’s GDP growth for the first quarter of 2013 was recorded at 4.8%, slightly better than the 4.5% recorded in the fourth quarter of 2012. HSBC India’s Composite Output Purchasing Managers’ Index was recorded at 52.0 for the second quarter of 2013, slightly lower than the previous quarter’s 53.0-54.0. Though the Indian Rupee depreciated to a record closing low of INR59.57 in the second quarter of 2013, the Consumer Price Index has decreased from 10.91% in February 2013 to 9.31% in May 2013. Falling inflation has encouraged the Reserve Bank of India to reduce the repo rate by 25 basis points to 7.25% in the second quarter of 2013.
Source : Cushman & Wakefield