The loss for PM Modi’s BJP in the state election in Karnataka may persuade the ruling national party to slow the pace of labour reforms and other politically contentious measures elsewhere as next year's general election comes onto the horizon. Meanwhile, trade data for April released this week show the goods trade deficit narrowing to a 20-month low. And we think the strength of services exports will support the external position this year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.