India’s economic performance for August 2023 saw positive trends in demand parameters, input purchases, and monetary indicators, on top of an impressive performance by the industrial sector. However, an increase in urban unemployment, a static trade deficit, and reduced capital expenditure in July were worrying spots. Nevertheless, the economy is treading on a firm growth path, posting 7.8% growth for the first quarter of FY2023-24 (April-June 2023) on top of a very high base. Despite the continuing worldwide challenges of inflation and supply chain disruptions, overall business sentiment in India remained optimistic.
US-India Strategic Partnership Forum