India Data Response Industrial Production (Sep.) Industrial production in India rebounded strongly in September, but we don’t expect this strength to last. Higher interest rates and the slowdown in global demand look set to weigh heavily on the... 11th November 2022 · 2 mins read
India Economics Weekly Coal giving ground slowly to renewables India’s dependence on coal and its plans to increase coal-powered generating capacity have been talking points at COP27. In the recent past, this dependence has been an economic vulnerability as... 11th November 2022 · 6 mins read
India Economics Update Mobile payment continues to soar While mobile and other digital payment methods are still used less in India than in many EMs, the rapid expansion initially triggered by the pandemic has continued over the past year. A well-developed... 9th November 2022 · 2 mins read
India Economics Weekly Electronics exports are booming India’s exports of electronics remain small, but they have doubled in value over the past couple of years. This is further evidence of a shift into areas of manufacturing that have the potential to... 4th November 2022 · 5 mins read
India Economics Update RBI tightening will continue on schedule The RBI’s out-of-cycle meeting today concluded with no decision on interest rates. That’s no surprise – it was called for administrative reasons, rather than as a response to changing economic... 3rd November 2022 · 3 mins read
India Data Response Manufacturing PMI (Oct.) India’s manufacturing sector appears to have bucked the weaker regional trend, with an increase in its PMI last month. There was nothing in today’s release to dissuade the RBI from further tightening. 1st November 2022 · 2 mins read
India Economics Weekly Don’t expect fireworks at “additional” MPC meeting Unlike previous "emergency" meetings in response to big financial market moves or inflation shocks, the "additional" MPC meeting announced for next week is a bureaucratic decision since the RBI is... 28th October 2022 · 5 mins read
India Economics Update India’s position in a fracturing global economy Since independence, India has preferred to stay unaligned geopolitically. But in a fracturing global economy, the security and macroeconomic benefits of leaning towards the US – and away from China –... 24th October 2022 · 4 mins read
India Economics Weekly Rupee weakness is not a big macro concern The rupee has this week continued its slide against the US dollar, dropping to a record low of 83/$ on Thursday. As has been the case over the past few months, this has been the trigger for a series... 21st October 2022 · 3 mins read
India Chart Pack Tide is turning within the MPC The RBI continued frontloading policy tightening in its late-September meeting with another 50bp hike to the repo rate (to 5.90%) but communications since then suggest that some MPC members are ready... 19th October 2022 · 8 mins read
India Economics Weekly A bigger slice of Apple pie Apple’s decision to shift some of its manufacturing into India – and out of China – is an example of how the global economy is “fracturing” into US- and China-aligned blocs: the topic of our 2022... 14th October 2022 · 4 mins read
India Data Response Wholesale Prices (Sep.) The fall in Indian wholesale price inflation to an 18-month low in September comes as welcome news following the stronger-than-expected consumer price data released earlier thi s week. And with... 14th October 2022 · 2 mins read
India Economic Outlook Pace of tightening set to slow The RBI has frontloaded policy tightening over recent months but with inflation peaking and economic headwinds building, we think the central bank will now slow the pace of tightening and revert to... 13th October 2022 · 20 mins read
India Data Response Consumer Prices (Sep.) & Industrial Production (Aug.) The rise in headline consumer price inflation in September to further above the RBI’s 2-6% target range challenges our view that the RBI will slow the pace of tightening. But with food and energy... 12th October 2022 · 2 mins read
India Economics Weekly Bond index snub will dent pride more than inflows The announcement this week that JP Morgan will not be including Indian local-currency bonds in its benchmark bond indices for the time being will hurt egos in the government, but it is unlikely to... 7th October 2022 · 7 mins read
