Aberdeen Standard defensive on India, deems Centre's measures insufficient

Aberdeen Standard Investments has adopted a “defensive stance” towards India in the short term, as government measures to support the economy have fallen short of reviving demand with lacking key reforms.

Prime Minister Narendra Modi last month declared a $265-billion rescue package — equivalent to 10 per cent of the gross domestic product — to help support businesses hit by one of the world’s strictest stay-at-home order as the nation grapples with an increase in coronavirus infections. Yet, almost half of the stimulus comprised monetary measures announced since February.