Nomura Sees Indian Economy Slowing After Growth Surprise
- Varma projects GDP expansion of 5.5% in current fiscal year
- Says tailwinds will turn a bit into headwinds going forward
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India’s strong economic growth momentum could slow in the coming months, making the central bank shift focus from taming inflation to stimulating demand, according to Nomura Holdings Inc.
The economy’s expansion in the latest quarter surprised on the positive side, but going forward “the tailwinds will turn a bit more into headwinds,” Sonal Varma, chief economist for India and Asia ex-Japan at Nomura, said in an interview on Bloomberg Television Thursday.