IXSE - India Macro Update - No Smooth Sailing Ahead

• India's economy has been the worst-affected by Covid-19 but has also been the fastest to recover from the slump.
• However, the second wave of the pandemic paves the way for a bumpy ride again this year. Indian financial markets have not escaped the global risk-off sentiment recently.
• Growth continues to be the main goal of macroeconomic policies coming into 2021, even as the government aims to trim down the fiscal deficit and the RBI has recently signalled an end to its monetary easing, albeit with a continued accommodative bias.
• Structural bottlenecks will continue to hold back India's economic potential for years to come.

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