Tuesday, May 2, 2017

India's economy to grow 7.1% this year

Hindustan Times:

India is expected to clock 7.1% growth this year before edging up to 7.5% in 2018, according to a UN report, which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks.

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report ‘The Economic and Social Survey of Asia and the Pacific 2017’ launched yesterday that the economic growth for India is projected to be stable at 7.1% in 2017 before edging up to 7.5% in 2018, underpinned by higher private and public consumption and increased infrastructure spending.

I am really excited about the prospects for India long term. I will look to buy more Fairfax India on any pullbacks.

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