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Nomura cuts 2020 India growth forecast to 6.9%; pegs global growth at 3.3%

Nomura expects a gradual growth recovery to set in in the latter part of 2020, as Asian economies benefit from ongoing policy easing and a potential capex recovery in the tech sector

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Puneet Wadhwa New Delhi
Global research and brokerage firm Nomura has lowered its growth projections for India for the year 2020 to 6.9 per cent from the earlier projected 7.1 per cent, and sees more rate cuts by the Reserve Bank of India (RBI) going ahead. It expects Asia ex-Japan’s growth slowdown to continue until the fourth quarter of 2019 (Q4-2019), due to trade tensions, the tech down-cycle and a slowing Chinese economy.

“Amid the slowdown, there are signs of growing divergences within the region, with Vietnam, Taiwan and Malaysia benefitting from the diversion of trade away from China. We are lowering our 2020

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First Published: Aug 30 2019 | 2:28 PM IST

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