The year 2023 offered respite in some ways: Inflation sobered from historically high levels, interest rates plateaued, the feared US recession never happened, and global growth held up. We expect GDP growth at around 4 percent in 2024.For Asia, weak demand from China has been a major drag on regional exports since mid-2022. That’s true for the US, that’s true for India, that’s true for Australia, that’s true for Korea. So, I think that’s helped the manufacturing sector.Second, we have seen bigger than expected front-loaded capex both from the Centre and via states. So, I think India has everything going for it.

Source: Forbes December 22, 2023 12:44 UTC