Brokerage firm Ambit Capital has said that it has forecasted India's GDP to reach 7.3 per cent in the next fiscal, expecting positive results from a range of policy decisions triggered by election of PM Narendra Modi, appointment of former RBI governor Raghuram Rajan and the advent of technology.
According to the firm, the election of Modi, appointment of Rajan and advent of technology have been "troublesome" in the short run, but the policy decisions triggered by these resets have driven a silent revolution in 'access' to end-markets.
Commenting on the issue, an Ambit Capital Official told the media, "Based on these two macro impacts, we expect GDP to undergo a U-shaped improvement and expect GDP growth in 2017-18 to be recorded at 7.3 per cent year-on-year."
"The first major transformation has been the improved access to end markets, thanks to the advent of e-commerce and the potential implementation of GST. The second transformation would be access to 'capital' in recent years owing to increased competition among banks as well as competition to banks from NBFCs, corporate bonds and other financial technology driven offerings," he added.
Dion Global Solutions