Commenting on China’s sluggish construction sector, the SBI report said that while India’s eastern neighbor struggles with a sector collapse, India’s home sales peaked in the first half of 2022, i.e. between January and June. reached since the first half of 2013.
The reason behind the boom in home sales in India was mainly due to low interest rates and affordable unit prices, as well as the renewed demand for homes fueled by the Coronavirus pandemic, the report said.
In seven major cities, sales of 158,705 units grew 60 percent year over year in the first half of 2022, up 19 percent from the corresponding period last year, the SBI report said.
The research report further underlined the enthusiasm for India by citing the recent example of “
“Apple’s move, the most recognizable face of tech-infused innovation over the past two centuries, capturing the aspirations of an upwardly mobile population, should open the floodgates for other major conglomerates to follow suit,” the report said. .
It also provided an example of Indian stock and currency markets, which recovered, according to the report, after initially reacting negatively to the US Federal Reserve chairman.
Portfolio inflows turned positive, although they were marginal at $30 million on Aug. 29, the SBI report said.
Total portfolio inflows since July 29 are now $7.6 billion, up from $14.7 billion outflow in 2022-23 before July 29, it added.
“It is clear that India appears to be enjoying the TINA factor (there is no alternative) as globally all countries are facing the churn and India appears to be the best placed jurisdiction in terms of growth and inflation outlook in FY23,” the report said. .
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