Raw Finance

Common sense economic and financial industry analysis for everyone, from banking and investment professionals to individual investors.

India Surprises With 7.9 Percent GDP Growth in 2Q FY 2009

Posted by Gregg Killoren on November 30, 2009

India’s economy grew by 7.9 percent year-over-year during the three months ended September 31, 2009 (which is the second quarter of India’s fiscal year 2009-2010), data released on Nov. 30, 2009, showed, shattering expectations of 6.3 percent growth.

The most significant areas of year-over-year growth in India’s economy were:  mining and quarrying at 9.5 percent; manufacturing at 9.2 percent; electricity, gas & water supply at 7.4 percent; construction at 6.5 percent; trade, hotels, transport and communication at 8.5 percent, financing, insurance, real estate and business services at 7.7 percent; and community, social and personal services at 12.7 percent.

The growth rate in agriculture, forestry & fishing was estimated at 0.9 percent in the second quarter.

Please click on the following link to view the full statistical GDP release from India’s Central Statistical Organisation:  ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE SECOND QUARTER (JULY-SEPTEMBER) OF 2009-10

Investors looking to allocate a portion of their portfolios to India may consider the IPath MSCI India exchange-traded note (symbol: INP).  [Disclosure:  Trafalgar Investment Advisers LLC's Model Portfolio and some of its clients' portfolios are long INP]


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