Hi,
Please find attached the report on India Insights - Monthly update on Indian markets
Kindly attributed to HSBC Global Asset Management.
Please see a note by HSBC Global Asset Management
| India Insights (July 2016) |
Please find the latest issue of India Insights attached below. India Insights provides a comprehensive update on Indian economic and market developments, along with our asset class views on a monthly basis.
Key takeaways
- Optimism surrounding the likely passing of the long awaited Goods & Services Tax (GST) bill has picked up in recent weeks after India's Parliamentary Affairs minister said that the government hopes to clear the path for the rollout of the nationwide tax in the ongoing session of parliament that started on July 18
- After a slow start and about a week's delay in arrival, rains covered the whole of India in mid-July and are slightly above average since the beginning of June
- In June, headline CPI inflation stayed elevated, driven mainly by higher food prices. Unfavourable base effects would likely keep headline inflation high in the next couple of months, with food price trajectory likely to remain a key factor
- India's export growth turned positive after 18 straight months of contraction, on a lower base effect and pick up in non-commodity exports
- Following the announcement of Rajan's impending departure the INR initially weakened against the dollar but, subsequently the currency picked up on the back of strong global equity markets and month-end selling by exporters
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