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India's Economy Is Not As Rosy As It Looks, Some Analysts Say

May 8, 2013: 12:00 AM EST
Despite market data that seems to encourage multinational corporations, such as Unilever and GlaxoSmithKline, to invest in India, the country's economy is not as strong as it seems. India has more than 1 billion potential consumers who are spending more than before, while sales of fast-moving consumer goods are forecast to grow 17 percent each year until 2015, according to ICICI Securities analyst Anand Mour. India's gross domestic product, however, is forecast to grow about 5 percent for the year ending March 2013, which is the lowest for the country in a decade. Inflation rose at an annual rate of 10.4 percent in March, while the government's populist policies may be artificially driving demand. India's government provided up to $48 billion in subsidies for fuel, fertilizer, and food during the year.
Abheek Bhattacharya, "Beware the Indian Consumer's Charms", Wall Street Journal, May 08, 2013, © Dow Jones & Company, Inc.
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