South Asia Monitor: India's Economy: Slowing, But Still Delivering - September 02, 2008
September 3, 2008
In recent years India's economy has grown at breakneck speed, averaging 8.7 percent per year since 2003. The downturn in the United States and rising oil and food prices has contributed to a recent slowdown. GDP growth in India is projected at 7 and 8 percent for 2008/2009, the Bombay Stock Exchange (BSE) is down, and inflation is now in double digits. Even with this turbulence, the Indian economy retains considerable dynamism, but the crisis faced by India's poor who have been largely left out of its new prosperity is likely to deepen.