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Emerging Economy February 2009 - Indicus Analytics
 

Emerging Economy February 2009 - Indicus Analytics

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Highlights
• Monetary policy and fiscal policy on hold, vote on account to give a boost
• Pressure to cut interest rates further but RBI not showing much interest
• Rate cuts by RBI, if at all, only by March
• Manufacturing shows some recovery but likely to be a short term blip
• Agri output likely to be hit by warm temperatures
• Downturn hits hiring intentions, reverse migration hits villages
• Exports head for further decline as foreign markets shrink
• Firms look to domestic rural markets for growth
Last month we wrote, it is time to get over our collective pessimism, and get on with the job. Companies like Hero Honda who have gone in for rural markets have outshone others who are still stuck on servicing consumers who need loans. Auto sector cleared five months inventory in December and continued to do well in January primarily due to price cuts and discounts. Telecom continues to add more than 10 million consumers on the network.

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    Emerging Economy February 2009 - Indicus Analytics Emerging Economy February 2009 - Indicus Analytics Document Transcript