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India Insights

Monthly update on Indian markets
20 April 2021
    Download the full reportPDF, 605.16KB

    Summary

    • The government has kept the inflation-targeting framework for the central bank unchanged for a five-year period beginning 1 April, dismissing speculation that the target maybe eased as the authorities push to drive growth in the economy
    • The pace of India’s vaccination rollout has been accelerating in recent weeks with 70 million people injected by early April. The government recently opened up the immunization programme to everyone over the age of 45, aiming to inoculate 300 million people by August
    • A new OECD report forecasts India’s 2021 GDP growth at 12.6 per cent, amidst strong fiscal and quasi-fiscal measures, as compared with a 5.6 per cent increase in global GDP during the same period
    • By the end of March, foreign investors added USD37.6 billion in inflows into Indian equity markets in the 2020-21 financial year. This is the highest inflows by FIIs into the asset class in close to two decades