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Top fund ignores India's GDP estimates

To gauge country's growth, it tracks spending data on consumables such as soap, toothpaste
Wednesday, July 6, 2016 - 05:50
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WEATHER FORECASTS: Away from GDP numbers, ICICI Prudential expects that only a spike in oil prices and a below-normal monsoon can upend India's stock markets.

Mumbai

FOR India's biggest fund manager, S Naren, there are better ways to gauge economic growth than the nation's much-reviled official estimate of gross domestic product.

Mr Naren says he relies on data for spending on soap and toothpaste, travel and electricity usage when