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Strategies & Market Trends : New India -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (455)	11/30/2009 10:26:57 AM
From: Sam Citron	Respond to of 608

Yes, but it ain't growing at a 7.9% rate anytime soon. ;-) India Growth Shatters Expectations ft.com “As upside surprises go, this was a big one,” said Robert Prior-Wandesforde, a senior economist at HSBC, the banking group. “We believe this to be the biggest rise the Indian economy has seen since the quarterly data began in 1996. An extraordinary result and one which will no doubt make the RBI sit up and take notice. We can safely say that the chances of a rate move before the end of December have risen.” Manufacturing output rose 9.2 cent and services rose 9.3 per cent, government data showed. Agricultural production, yet to reflect the effects of a poor monsoon, rose 0.9 per cent. ...In spite of reassurances from India’s policymakers that the country will not be badly affected by the debt problems in Dubai, fears are growing that remittances and exports will fall in the coming months. The United Arab Emirates is one of India’s largest export destinations. About 2m Indians work in the country and remittances from the Gulf region are worth about $3bn a year. The southern state of Kerala is particularly dependant on the flow of remittances from the Gulf.