Key View

• Health expenditure in India as a percentage of GDP has fallen to below pre-pandemic levels in 2022 due to a decrease in out-of-pocket payments.

• The newest budget aims to renew focus on infrastructure, health and medical education as well as the national digital health ecosystem.

• The launch of India’s National Tele-Mental

Key View

• The Reserve Bank of India dialed back on the pace of monetary tightening in December by opting for a smaller 35 basis point repo rate hike (to 6.25%), and we at Fitch Solutions think that India’s policy rates are nearing a peak.
• However, while an increasingly sluggish economy will restrain the central bank over the coming months

Key View: We forecast real household spending in India to grow by a further 7.1% y-o-y over 2023, falling from the 10.1% growth in spending recorded in 2022. High-frequency data indicate that consumer confidence is yet to return to pre-Covid levels, suggesting that consumer spending on big ticket items will likely be deferred until the economic

Key View

• To improve patient outcomes and enhance medicine quality monitoring in India, the government aims to form an extensive database on all drug formulations sold in the country.
• Enhanced medicine quality control will be beneficial for patient health outcomes.
• The database will improve the market standards for India’s pharmaceutical

Key View

• We hold a positive outlook for arrivals from Bangladesh to India in 2022, as we forecast arrivals to reach 659,140, up by an estimated 176.1% from 2021. We note that this strong growth is from a low base following consecutive y-o-y contractions in 2020 and 2021.
• We forecast arrivals from Bangladesh to India will fully recover by 2024

Key View

• The Reserve Bank of India raised its repo rate by 50 basis points to 5.90% on September 30 2022, and we at Fitch Solutions expect further hikes to follow in the coming policy meetings.
• Inflation is likely to remain elevated for several more months, averaging at 6.7% in FY2022/2023, and further monetary tightening in the US will also

Key View: We explore the evolution of Mass Grocery Retail in India, from the formalisation of grocery retail, the growth factors that enabled such strong growth as well as the growing trend of e-grocers in the country, many with ultra-fast delivery timings.

India Will Increasingly Become An Attractive E-Commerce & E-Grocery Market

In August

Key View

• The continued emphasis on medical research in India will play a critical role in facilitating the delivery of new innovative treatments to patients.
• A rise in R&D investment will boost innovation in India, benefiting the pharmaceutical trade sector.
• Government price controls and the widespread implementation of health technology

Key View

• Data released on August 31 showed the Indian economy expanding by a substantial 13.5% y-o-y in Q222, but that will prove the peak for real GDP growth.
• At Fitch Solutions, we think that tepid global demand, persistently high inflation, and further monetary tightening will see the economy slow over the coming quarters.
• That said, the