Government reforms, a burgeoning middle class and growing new trade corridors are helping India to weather a recent slowdown. Annual GDP growth has fallen from 8-9% to 6%; still a figure that would be viewed by most Western economies with envy. "The feeling in India at the moment is that there is a slowdown in industrial growth and inflation rates are very high," says Surath Sengupta, head of global trade and receivables, India, at HSBC. "However, the government has for the past couple of quarters been trying to address the slowdown through a number of reforms."
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