India’s Economic Recovery On Track In January; Expect Real GVA Growth Of 3-4% YoY In Q4: Motilal Oswal 

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Motilal Oswal Report

Our in-house Economic Activity Index (EAI) for India’s real gross value-added (GVA; called EAI-GVA) posted faster growth of 4.9% YoY in January 2021, versus growth of 4.1% YoY in December 2020 and 4.7% in January 2020.

Faster growth in January 21 was led by higher growth in the services sector and farm activity. On the other hand, growth in industrial activity moderated during the month.

Additionally, while the services sector was driven by fiscal spending, expected decline in construction activity and slower growth in the manufacturing sector led to muted industrial growth in January 2021.

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