Thought of the Day

Rapid Economic Growth in India Throughout the First Quarter of 2024


 
28 March 2024
 
The March Survey of Indian Sales Managers reports yet another month of rapid economic growth. All growth related indexes are now reflecting strong expansion across a wide variety of business sectors.

The key Sales and Market Growth Indexes are now at 48 month highs. The Business Confidence Index showing the vital "animal spirits" factor in economic growth is burgeoning. The overall Sales Managers Index, reflecting the performance of the economy on the basis of all sub indexes, is also at a 4 year high.

And the Jobs Index, for so long reflecting business caution in recruiting after the perilous Covid period, suggests that the fear of hiring has now virtually evaporated, and businesses across a broad swathe of sectors are once again investing in people.

The only negative revealed by the survey is the uncomfortable persistence of price inflation, but this may partially be a result of price pressures caused by the very rapid expansion of economic activity.

Overall, the survey results are very good news for investors in India.
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