The Indian government have predicted that India will top the International Monetary Funds (IMF)
projection of 5.1% GDP growth in 2009.

India is beginning to see some positive signs in varying sectors which leads the government to believe that they can achieve top 5.1% GDP growth.

However banks, particularly those in the private sector, have not cut interest rates as much as expected, following the easing of monetary policy by the Reserve Bank of India (RBI).
which is key in keeping the growth moving.

Global companies may be closing down but demand for serviced office rentals in India is growing as the credit crunch takes hold. (more…)

Indian economic growth is expected to pick up faster than the rest of the world according to reports by the Reserve Bank of India (RBI). (more…)

This May Virgin Atlantic will cease its London – Mumbai route, only three years after it was launched. (more…)

Moody’s reports that India will remain a top outsourcing destination.

Although India’s outsourcing industry has slowed with the global recession, Moody’s reports that India will remain a top outsourcing destination.

With a highly educated English speaking workforce and lower wages, India is still expected to perform well when the world ecomomy picks up.

ICICI Bank, the country’s second-largest private sector lender has now cut interest rates on new home loans with immediate effect.

A bank spokesperson said new home loans of up to Rs 20 lakh would come at an interest rate of 9.75 per cent against 10 per cent now.

For home loans of Rs 20 lakh to Rs 30 lakh the interest rate has been reduced from 10.5 to 10 per cent. New home loans of over Rs 30 lakh will carry a rate of 11.5 per cent, against 12 per cent at present.

Less than a week after Indian GDP figures illustrated a reduced growth rate 5.3%, the Reserve Bank of India (RBI) has announced as predicted in our earlier post last week ,to lower the cost of lending deposit rates by trimming the repo rate and the reverse repo rate by 50 basis points each. (more…)

The global slowdown could reduce India’s growth rate to 3% in 2009 according to Morgan Stanley.

In a research report published today, Morgan Stanley said that this would depend on how the developed world recovers from global slowdown. (more…)

There is a growing expectancy that the Reserve Bank of India (RBI) will cut interest rates in India further in the coming weeks. (more…)