India Chart Pack Capital injections too small to revive banking sector The government’s announcement this week that it will inject more capital into local banks is a positive step, but the amount is still too limited to revive the ailing sector. 22nd July 2016 · 1 min read
India Economics Update Bond market rally likely to run out of steam Indian bond yields have recently fallen to their lowest levels since 2013, in large part due to anticipation that the successor to Governor Raghuram Rajan at the RBI will be more dovish. But with the... 21st July 2016 · 1 min read
India Economics Update Export slump ends but sharp rebound unlikely Trade data for June showed positive growth in export values for the first time since the end of 2014. But with progress on the reforms needed to create a vibrant export sector still slow, the... 18th July 2016 · 1 min read
India Data Response Wholesale Prices (Jun.) Wholesale price inflation rose sharply in June, and looks set to accelerate further over the coming months. This reinforces our view that there is little scope for further monetary loosening. 14th July 2016 · 1 min read
India Data Response Consumer Prices (Jun.) & Industrial Production (May) Indian consumer price inflation held steady in June, but it remains some way above the RBI's target for March 2017. As such, the scope for further monetary loosening still looks very limited. 12th July 2016 · 1 min read
India Economics Update Inflation to slow but stay above target We think that Indian consumer price inflation dropped in June, but it is likely to have remained some way above the Reserve Bank’s 5.0% target for March 2017. There is little reason to think that... 12th July 2016 · 1 min read
India Economics Update Passage of Goods and Services Tax edging closer Recent changes to the composition of the Rajya Sabha have raised the likelihood that the long-awaited Goods and Services Tax (GST) bill will finally be passed. But there are still sticking points, the... 5th July 2016 · 1 min read
India Data Response Manufacturing PMI (Jun.) India's manufacturing PMI rose in June, but the reading remained lacklustre by past standards. The big picture is that local manufacturers continue to face significant structural constraints. 1st July 2016 · 1 min read
India Economics Update Further FDI reform will prove harder to implement Measures announced last week to further ease restrictions on foreign direct investment into India should help at the margins to build on one of the main policy successes of the Modi government so far... 29th June 2016 · 1 min read
India Economics Update Who will succeed Governor Rajan at the RBI? Following the announcement earlier this month from Reserve Bank of India (RBI) Governor Raghuram Rajan that he will be stepping down at the end of his first term in September, speculation has been... 27th June 2016 · 1 min read
Metals Data Response China and India’s gold imports (May) China’s gold imports rebounded strongly in May, after a weak start to the year. While premiums in the local market have recently turned negative, Brexit fears could spur a fresh wave of safe-haven... 27th June 2016 · 1 min read
India Chart Pack Fallout from Brexit vote would be limited A vote by the UK to leave the European Union in tomorrow's referendum would be unlikely to have much impact on India's economy. Indian exports to the UK are equivalent to less than 0.5% of GDP, so... 22nd June 2016 · 1 min read
India Economics Update Markets calm as Governor Rajan heads for the exit Th e market fallout from RBI Governor Raghuram Rajan’s announcement that he will step down at the end of his current contract in September has so far been limited to a slight drop in the rupee and a... 21st June 2016 · 1 min read
India Economics Update Governor Rajan to step down, all eyes now on successor The announcement from RBI Governor Raghuram Rajan that he will stand down at the end of his current contract in September is likely to put local financial markets under pressure in the near term... 20th June 2016 · 1 min read
India Economics Update BoP data show further strengthening in external position The narrowing in India’s current account deficit in Q1, along with another rise in foreign direct investment inflows, leaves the economy looking well placed to weather any sudden shifts in global risk... 17th June 2016 · 1 min read
India Economics Update Export slump close to an end but long-term prospects subdued India's trade data for May suggest that the prolonged contraction in exports in US dollar terms has almost run its course. But with progress on the reforms needed to create a vibrant export sector... 16th June 2016 · 1 min read
