2023 is right around the corner and so far, India has witnessed steady growth and is expected to remain the fastest-growing economy with real GDP growth projected at ~7.0% as of the current financial year ending in March 2023. India’s services exports and domestic consumption story continue to remain strong, along with private consumption demand, government CAPEX-driven investment demand, and growing service sector demand, especially in IT-BPM, professional services, BFSI, transport, and real estate.
For 2023, a growth rate of 6.1% has been forecasted by the RBI by taking into consideration the recessionary scenario in the West. Despite these headwinds, India continues to remain the fastest-growing major economy. A key impediment for growth was the high inflation rate that is appearing to taper down in the coming months.
In the Outlook 2023 – Year End Round Up we look at the office, residential, retail, industrial and warehousing, data centers, and investments sectors, with a focus on the year that was and the year to look forward to.
Read the report here.
Year-end Roundup and Outlook 2023
Suvishesh Valsan • 29/12/2022
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