The Indian Economy is relatively well positioned to navigate the current global headwinds, although recent domestic policies pose some risks. Although the government's renewed spending vigor ahead of the upcoming general election and a more accommodative monetary policy will provide modest support to domestic demand in the coming months, the economy will still experience a slowdown in 2019 and 2020 as post-election cutbacks in fiscal spending, higher trade and fiscal deficits, and growing external pressures will weigh down on private consumption and fixed investment. Increasing signs of a weakening of domestic demand, combined with an uncertain export outlook, have prompted another downgrade to our real GDP forecasts. We now expect growth to slow further to 6.9% in 2020.
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Impact of COVID-19 pandemic and way forward will also be discussed and you are welcome to forward questions in advance by emailing AsiaPacificAutomotive@ihsmarkit.com, we will prioritize to reply these during the live Q&A session.
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Duration: 1 hour