The Fed rate cut is no longer a hope but well underway, inflation appears to be under control, and the US election is behind with the new administration seen as business-friendly, according to the 'India IT Services 2025' report by BNP Paribas India
Besides, positive developments on COVID-19 vaccine front, improved domestic macro-economic data and weakness of the American currency against key rivals also supported the rupee.
The decline in the Index of Industrial Production (IIP) was 10.8 per cent in July. The contraction in August stood at 8 per cent, as per the latest data.
