India’s GDP growth estimated at 1.8% in Q3: HSBC India

The government will release its third-quarter GDP numbers today.

Speaking in an interview to CNBC-TV18, Bhandari said, “We are at 1.8 percent year-on-year (YoY) rise for the quarter ending December and the reason is the whole pent up demand; the demand for goods in the last couple of months, the pent up demand for services that has started picking up, all of that will show in that number and also the government started spending in November and December. Therefore, it’s going to make for a good recovery and that is what we are going for.”

On the manufacturing front, she said, “We are expecting manufacturing growth at a positive of 5 percent; Index of Industrial Production (IIP) manufacturing for the quarter grew at about 1.5 percent. This will be higher than that because even the corporate results have been doing well for the December quarter. So bringing in some of the value-added rise we have manufacturing growth going into the positive of 5 percent. In fact, that’s one of the biggest drivers of the number that we are going to see.”

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