For the first time, India can hit this growth record!

16 Nov 2022

If you hear the word ‘economy’ in the current scenario, what are the things that would come to your mind?

You could think of growth slowing in some major economies - because of high inflation, or because of the aftermath of the COVID-19 pandemic. You could also be thinking of a recession. Growth has not been a talking point for most economies.

Except India.

The country was the fastest-growing major economy in the world in 2021, with a growth rate of 8.7%, as per the International Monetary Fund.

In 2022, it is set to top the charts for growth again.

The IMF also expects India to be the fastest-growing major economy in the world in 2023, with a projected growth rate of 6.1%.*

“This will be the first three years where India will be the fastest growing major economy in the world,” said Nilesh Shah, group president and managing director at Kotak Mahindra Mutual Fund.

Let’s take a look at some other macro-economic indicators.

The capacity utilisation in India is now at a 17-quarter high^, while economic activities are at an all-time high, according to the Jefferies India Recovery Tracker.

Credit growth in the country is also reviving to double-digits, a report by Spark Capital showed.

 

 


 

 

*Source: IMF

^Source: Bloomberg

This article is for information purposes only. The information provided herein is derived from public sources, believed to be from reliable sources. However, no representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. Views expressed herein involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied herein. Kotak Mahindra Mutual Fund/ Kotak AMC is not indicating or guaranteeing returns on any investments. Past performance may or may not be sustained in future. Readers should seek professional advice before making any investment-related decisions and alone shall be responsible for any decision taken.

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© Kotak Mutual Fund.2022
Mutual fund investments are subject to market risks, read all scheme related documents carefully.
© Kotak Mutual Fund.2022
Mutual fund investments are subject to market risks, read all scheme related documents carefully.