BusinessWorld (Indian magazine) 06 Feb 2009
Is the IMF’s GDP growth forecast of 5.1 per cent for India in 2009 too grim?
Quick Take
It’s not a secret that like others, the highly indian economy is now facing harder times affected by the deteriorating outlook for some of its main trading partners. By its Stock Exchange sliding all year, by Satyam’s scandal. As it’s global credit running dry. Even Tata Motors, one of India’s biggest companies, has been struggling to keep its hands on equity. India’s economy is slowing and confidence is weak. Previously soaring foreign investment in India is expected to decrease and much more since last blasts. Nobody yet knows how serious the slowdown will be.
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