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]
Gregg D. Killoren
victoria1014
