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Schroders Talking Point: India: Sentiment sours

  Author: Keith Wade ( Schroders )
 June, 2015
  Price: FREE

Abstract:

We find ourselves one year on from Narendra Modi’s electoral victory; a stunning result which delivered a powerful mandate. However, while important steps have been taken which reduce macroeconomic vulnerabilities and improve the business environment, “big bang” reforms have been lacking. The modest pace has been largely in line with our expectations but has disappointed the more euphoric reactions to Modi’s triumph. Consequently, we do not yet revise our growth forecasts, though failure to deliver some reform in the next session of parliament would present downside risks.
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