Indian to clock 7.7% and China to 6.5% growth in 2016
12 Jan 2016
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The report further noted that India will continue to reap the benefits of recent reforms.
"The cut in the policy rate by the Reserve Bank of India from 8 per cent to 6.75 per cent last year will help support consumption and investment growth this year," PwC said, adding that FDI in the country's "underdeveloped" manufacturing sector should also pick up as foreign investment caps have mostly been lifted.
We expect the US recovery to switch into a higher gear in 2016, while the UK will also enjoy continued consumer-led growth. We should also see at least the beginning of the end of the Eurozone crisis. The once-mighty BRICs, however, will have another tough year in 2016, with the notable exception of India," PwC report said.