India and China better then other bric countries

The global economic downturn has not left the emerging countries unscathed with India and China witnessing moderation in their economic growths, but experts believe the two countries are holding on relatively well among other developing nations.

According to a latest report by leading brokerage firm Sharekhan, "Asian emerging markets too are facing their own share of economic moderation owing to weakness in external trade, foreign inflows and economic sentiment. Importantly, India is holding on well, though the GDP growth has moderated to 5.3 per cent year-on-year (for Q3FY2009) compared with 7.6 per cent in Q2FY2009."

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Experts believe that though the fastest-growing economies of China and India have suffered some moderation, they are showing much more endurance than the other two countries in the BRIC pack - Brazil and Russia.

"Among the BRIC countries, India and China are relatively showing resilience as they are still reflecting GDP growth rates as high as six per cent to eight per cent," SMC Capitals equity head Jagannadham Thunuguntla said.

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Angel Broking Research Head Hitesh Agrawal also believes that India and China are relatively well-placed compared with Brazil and Russia, evident from the contractions witnessed in the latter two over the last six-eight quarters.

with extracts from economic times
posted under - indian economic updates, indian economy, bric countries, economy of india, economic slowdown and india