India’s manufacturing activity is improving, credit growth and government capex remain strong, currency is stable, while urban consumption continues to hold up. So, is India’s economy getting better? BNP Paribas believes the answer is yes. The brokerage said, “Over the past two months, the macro environment in India has improved. Both inflation and GDP growth expectations have remained stable.” However, higher crude oil prices and a potential El Nino-led monsoon deficit remain key risks to the economy. Here is a detailed look at India’s macroeconomic indicators.