Technology

Indian economy grew by 7% in 3QFY17 vs.
7.4% in 2QFY17. The December quarter GDP growth indicates slower growth
compared to September quarter, however this has positively surprised the markets
considering pessimistic GDP growth expectations of 6.1%-6.4% growth rate had
built up. At 7% rate, our economy continues to grow at a healthy rate and remains
a bright spot in the global economy. The 3Q GDP growth number indicates how
our formal sector will perform when growth drivers are intact. With the major
hurdles cleared and GST implementation likely from July-2017, formal sector is
likely to gain further. In our opinion, once fully implemented, GST will help the
economy to grow by 7%-8% rate over next several years. This is a very important
structural change that is going to happen in the economy and markets will remain
optimistic of impact of GST implementation on economy.

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