India’s real GDP has been forecast at 5.0% for the fourth quarter of 2013 and is likely to increase by 0.6 percentage points in the first quarter of 2014. HSBC’s India Composite Output Index inched up from 47.6 in last quarter to 48.5 in November, indicating a slight ease in contraction. The Indian Rupee is currently range-bound at INR61-63 against the US Dollar and has recovered from the lows of INR67-69 last quarter.
The Consumer Price Index (CPI) increased further to 11.24% in November 2013, rising by 1.72 percentage points from August 2013. Though the Reserve Bank of India had revised the Repo Rate upwards by 25 basis points to 7.75% in October to combat inflationary pressures, it left them unchanged in December as it expects the inflation to start dipping soon.
Source : Cushman & Wakefield