Real GDP likely to continue being buoyed by net exports and investment, as the government’s borrowing declines
Real GDP accelerated to 6.1% YoY growth in Q4FY23, taking growth for FY23 to 7.2% (in line with our estimate, but above the RBI’s 7% and IMF’s 6.8% estimates). The rebound in Q4 was spurred by a turnaround in net exports, as exports of goods and services grew 11.9% YoY while imports decelerated to 4.9% YoY growth.