Indian macros appear to be relatively stable despite global headwinds. Indias GDP grew by 13.5 per cent in 1QFY23 and the quarterly GDP surpassed the pre-Covid level by 3.3 per cent, according to George Thomas, Associate Fund Manager, Quantum .
Loans from Indian banks increased 11.1% y/y in two weeks to April 22: RBI - Outstanding loans fell 112.33 billion rupees ($1.46 billion) to 119.55 trillion rupees in the two weeks to April 22.
While latest data signals nascent signs of recovery, it will be misleading to accept it at face value without accounting for the headwinds that lie in wait in the Indian macroeconomic scene.