New Market Report: India Infrastructure Report Q3 2013
We have slightly revised down our construction forecasts for FY2013/14 and FY2014/15, with real growth reaching 7.0% in FY2013/14 (previously 7.6%) and 7.6% in FY2014/15 (7.9%). This is because the factors dampening construction activity in FY2012/13 - relatively non-conducive monetary conditions, policy inertia and lacklustre infrastructure activity - remain pertinent, while material improvement in the business environment for India's infrastructure sector is becoming increasingly unlikely given the government's weakening political position and the upcoming parliamentary elections.
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