Nomura sees India nominal GDP reaching $3 tn by FY
17
10/09/2014 16:22
According to Economic Times, a report by Japanese brokerage and investment banking major Nomura Holdings said that India’s nominal gross domestic product (GDP) may surpass the USD 2 trillion level in the current fiscal. The Japanese financial major also sees India’s nominal GDP reaching nearly USD 3 trillion by the fiscal year 2017. Nomura Holdings said that nominal GDP of the country grew at an average 13.4 per cent, year on year during FY 2012-FY 2014, but a sharp depreciation in the Indian currency and high inflation rates offset the impressive pace of growth. The Japanese investment and brokerage giant expects India’s nominal GDP growth to average nearly 13-13.5 per cent during FY 2015-17, with Nomura predicting higher real growth and less inflation. The investment firm sees a rise in nominal GDP per capita to above USD 2,000 in FY 2017 from nearly USD 1,500 in FY 2014 accompanied by a rise in real incomes. Higher real per capita income may boost domestic purchasing power, powering consumption demand in Asia’s third biggest economy. The Indian economy grew at the sharpest pace in more than two years last quarter as GDP expanded at 5.7 per cent in Q1 FY 2014-15 from the same period a year ago, up from 4.6 per cent annualized growth in Q4 FY 2013-14.
10/09/2014 16:22
According to Economic Times, a report by Japanese brokerage and investment banking major Nomura Holdings said that India’s nominal gross domestic product (GDP) may surpass the USD 2 trillion level in the current fiscal. The Japanese financial major also sees India’s nominal GDP reaching nearly USD 3 trillion by the fiscal year 2017. Nomura Holdings said that nominal GDP of the country grew at an average 13.4 per cent, year on year during FY 2012-FY 2014, but a sharp depreciation in the Indian currency and high inflation rates offset the impressive pace of growth. The Japanese investment and brokerage giant expects India’s nominal GDP growth to average nearly 13-13.5 per cent during FY 2015-17, with Nomura predicting higher real growth and less inflation. The investment firm sees a rise in nominal GDP per capita to above USD 2,000 in FY 2017 from nearly USD 1,500 in FY 2014 accompanied by a rise in real incomes. Higher real per capita income may boost domestic purchasing power, powering consumption demand in Asia’s third biggest economy. The Indian economy grew at the sharpest pace in more than two years last quarter as GDP expanded at 5.7 per cent in Q1 FY 2014-15 from the same period a year ago, up from 4.6 per cent annualized growth in Q4 FY 2013-14.
