India’s Q2 GDP moderates but details encourage

India’s Q2 2015 real GDP growth fell short of expectations, easing to 7.0% y/y from 7.5% in Q1. However, excluding net indirect taxes, GDP growth picked up to 7.1% y/y from 6.1% in Q1. Amid the ongoing global financial turmoil, India’s macro fundamentals are amongst the strongest in the region, although stalled progress on key legislative reforms can unnerve investors.

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