In spite of the COVID-19 pandemic, a two-month long nationwide lockdown and a large GDP contraction in 2020, foreign capital flows to India remained surprisingly resilient. Data from IMF’s Balance of Payments statistics for the calendar year (CY) 2020 reveals that India received about $80 billion in foreign direct investment (FDI) and foreign portfolio investment … Read more
The quarterly contraction in India’s growth in the ongoing fiscal is set to end in the third quarter with a marginally positive 0.1% growth, according to the National Council for Applied Economic Research (NCAER). The think tank pared its forecast of gross domestic product (GDP) growth during the ongoing fiscal to -7.3% compared to -12.6% … Read more
Citing the yet to be stabilised infection curve and the COVID-19 caseload in economically key states, Singaporean brokerage DBS on Wednesday forecast deeper distress for the country which will lead to a 6 per cent growth contraction in FY21. In its earlier forecast, the brokerage had penciled in a minus 4.8 per cent growth for … Read more