In this edition:

  • Market overview: Indian equity market insights from SBI FM’s CIO Team
  • Did you know? Domestic participation is increasing
  • Hot topic: Real GDP softens. Really?

The first quarter of FY25 saw a real GDP growth of 6.7%, down from nearly 8% in each quarter of FY241. This moderation is presumably attributed to idiosyncratic and statistical factors, with underlying momentum remaining strong.

Key sectors are presenting notable investment opportunities, from a surge in consumption to the expansion of the services industry; the landscape remains dynamic. Improvements in the trade balance and robust high-frequency indicators highlight the resilience of economic activity, signalling ongoing progress in critical areas and paving the way for future growth.

The Indian macro environment continues to sustain healthy momentum and the GDP outlook remains near 7% for the three remaining quarters of FY25.

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1 CMIE Economic Outlook, SBIFM Research, data as of July 2024.

Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 24 September 2024. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results.

Date of first use: 24 September 2024
Doc ID: 3868745