India Growing Faster Than Emerging Market Peers: BofA-ML

By Super
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    A Bank of America Merill Lynch report has said that India is growing faster than most emerging market peers and the country is expected to clock a GDP growth of 7.4 per cent this fiscal.

    As per reports, according to the firm, India offers relative value in a slow growth world and this faster growth is allowing the country to emerge as the second largest emerging market after China.

    India Growing Faster Than Emerging Market Peers: BofA-ML
    Commenting on the issue, a BofA-ML Official told the media, "India still offers relative value in a slow-growth world. In our view we see a shallow recovery at home, we estimate growth at 5.5 per cent in FY16 and 6.5 per cent in FY17 (old GDP series)." "India is a rare economy in today's world in that it is not in stagflation. It is poised to overtake Brazil this year after having overtaken Russia last year in nominal GDP terms to emerge as the second largest emerging market after China," he added.
     

    The brokerage firm also added that lending rate cuts held the key to cyclical recovery and reforms remained important but more from a medium 5-10 year perspective.

    Dion Global Solutions

    Read more about: gdp
    Story first published: Monday, October 26, 2015, 9:32 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more