As inflation continues to rattle region, India remains in single digits

By November 27, 2023

At Horasis India Meeting today Ashish Chauhan, CEO of the National Stock Exchange of India, spoke to an audience about inflation in India remaining under 5%.

According to Chauhan, in spite of sharp spikes in oil prices inflation remained “under 5%, which to be in single digits for inflation for a country like India was impressive”.

After reaching 7.8 percent in 2022, headline inflation in Latin America — excluding Argentina and Venezuela — is expected to decline to 5 percent in 2023 and to 3.6 percent next year, driven by weakening external and domestic demand, easing global supply constraints, and the lagged effects of currency appreciation in some countries.  

According to Rodrigo Valdes, director of the IMF’s Western Hemisphere department., “Latin America has successfully weathered recent global shocks and showed a strong performance in 2022 and early 2023, although growth is softening.”

“The slowdown reflects tighter policies to contain inflation and weakening external environment, including slower growth in trading partners, tighter external financing conditions, and lower commodity prices”, added the executive.

The National Stock Exchange of India (NSE) is one of the leading stock exchanges in India, based in Mumbai. NSE is under the ownership of various financial institutions such as banks and insurance companies.

Mr. Chauchan, who is head of the Indian stock exchange, said on India’s economic outlook that despite India’s “GDP per capita income being $2,600” India is the “fourth largest market capitalized country” behind US, China and Japan. 

Mr. Chauhan spoke at the Horasis India Meeting, which is co-hosted by the Government of South Australia and the Confederation of Indian Industry (CII).

Featured photo of Ashish Chauhan, CEO of the National Stock Exchange of India