India’s Economic Activity Grows In Double Digits In March: Motilal Oswal
A man counts Indian rupee notes in Kolkata, India. (Photographer: Brent Lewin/Bloomberg)

India’s Economic Activity Grows In Double Digits In March: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Our in-house Economic Activity Index (EAI) for India’s real gross value added (called EAI-GVA) posted double-digit growth of 15.3% YoY in March 2021, supported by a contraction of 7% in March 2020.

Adjusted for the base effect, EAI-GVA grew 4.2% in March 2021, lower than more than 6% growth in pre-Covid-19 months.

This further implies that EAI-GVA increased 6% YoY in Q4 FY21, only moderately better than 5% YoY growth in Q3 FY21.

Farm and industrial activity increased 20% and 30% YoY, respectively, while the services sector grew 8.7% YoY in March 2021.

Click on the attachment to read the full report:

Motilal Oswal Ecoscope.pdf


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