India was the fastest-growing economy among G20 countries in 2018 with +7.4% GDP growth. Over the past five years, active and decisive policy-making (policy mix, structural reforms) has contributed as much as +0.7pp to growth p.a. on average. But our proprietary Now India Index (NII) suggests that growth momentum slowed to +6.2% in Q1 from +6.6% in Q4 2018 due to weaker private demand and uncertainties around the outcome of the general elections.
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