Slow India Economy Awaits National Election Results

Several deep-rooted economic challenges awaits India’s new government after election results are announced May 23.

Preventing further economic slowdown and nursing the nation’s financial sector back to health will be the immediate priorities for the next administration if Prime Minister Narendra Modi wins a second term.

A slowing global economy and a protracted trade war between the U.S. and China add to the urgency to fix things at home.

With 7% expansion in the year through March, India has held the crown as the world’s fastest-growing major economy. But that’s quickly changing this year as consumption, which makes up 61% of India’s gross domestic product, has been weakening.

Source: Bloomberg