Reaction from industry experts on Q3FY21 GDP numbers

Mr. Niraj Kumar, Chief Investment Officer, Future Generali India Life Insurance Co Ltd

"With Q3FY21 GDP growth turning positive, the strong recovery can surely be deemed as nothing less than 'outstanding', as we are the only third economy posting growth for the quarter amongst 16 major World economies. This GDP reading clearly testifies the resilience of the Indian Economy vs its global counterparts and reinforces the strong fundamentals of the country. The Indian economy has seen a sharp rebound from the onslaught of the Covid-19 pandemic, thanks to the financial vaccine administered by the government and central bank in the form of Quintessential fiscal reforms and monetary policy support along with the mega vaccination drive. With Pro-growth budget reforms and RBI's resolve to support the financial markets and economy, the Indian economy is well poised to ride the long term structural growth path."

Mr. Raghvendra Nath, Managing Director, Ladderup Wealth Management

"The overall economy of the country is hurtling back to normalcy and these numbers are on expected lines. India is very well positioned to bring its Economy back on track thanks to a successful containment of the pandemic across the country. The Economic growth in the coming year is expected to remain robust with a broadbased momentum across various sectors. The government's focus on infrastructure, real estate demand on the back of low-interest rates, recovery in commodity prices, and healthy consumption expenditure all point out to good times for the GDP. The private and foreign investment is also on the rise and capex should be higher than the previous years, aiding the long term growth."

Source : Equity Bulls

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