Forum Views - July 2023

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Dr. Vispi Rusi Bhathena, PhD (h.c.)

Chief Executive Officer

Dr. V. Aditya Srinivas

Chief Operating Officer

and Chief Economist

FORUM VIEWS, JULY 2023 edition

Indian economy emerging strong on all fronts

The Indian macro-economic data seems to be becoming stronger. The GDP which has come to 6.1%

for Q4 which was 4.4% in Q3 has been a quite cheer; and the whole year GDP is at 7.2% which was

much better than expected. This means that the broad economy is on the path to recovery and

becoming stronger.

FROM

THE

BBF SECRETARIAT

Inflation CPI data is at 4.70% which earlier was at 5.66%. This is below the RBI mark of 6% which has

given RBI room to put the Repo Rate hike at pause. RBI for the second consecutive time has kept the

Repo rate constant at 6.5%, but has cautioned that it needs to watch the monsoon since El Nino may

cause less rainfall.

The Foreign Institutional Investors (FIIs) have been steadily putting money into the markets and have

invested Rs. 42,684 crores till date in 2023 and the Mutual Funds have invested Rs. 55000 crores. The

return of FIIs have ensured that the markets are slowly rising to the all-time high levels and the mutual

fund SIP flows of Rs. 14,000 crores show the confidence of the retail investors in the Indian economy and

growth story.

The global economies are also taking time to adjust to the high interest rate scenario as the interest

rates in US, Europe and UK have reached the terminal level. The inflation in the developed economies

once starts coming down then the rate cut cycle may also start sooner or later this year.

From

to You...

BBF

FORUM VIEWS - JULY 2023

BBF conducted OVER 30 SEMINARS towards investor education and awareness

initiatives which were attended by MORE THAN 1600 participants.

BBF presence at the SEBI@35: Reflect, Review & Renew meeting held on Wednesday, 31-May 2023 at SEBI, Mumbai

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