India's economic growth is likely to revive in 2010 along with the global output that has more than caught up with falling demand, reported the PTI quoting Barclays Capital.
The Global Investment Bank stated that India's Real GDP for the calendar year 2009 would be 4% before it revives to 6% in 2010. It fell down to 6% in 2008 from 9.1% in 2007. It said that the stabilizing consumption demand and falling inventories across the globe is an optimistic surprise.
Barclays Capital Research Head Larry Kantor reportedly said that a considerable drop in output much faster than demand would result in decline in inventories and create an opportunity for better economic readings.
The investment bank said that the decrease in output is more than the demand by a large margin. The global industrial production is dropping at slower pace than in recent months and indications from Asia show that trade shrank only marginally on a month-on-month basis in February as tight credit norms eased.
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