India is offering relative value in a slow growth world and it's faster growth is allowing the country to emerge as the second largest emerging market after China, noted a recent report by Bank of America Merill Lynch. "India is a rare economy in today's world in that it is not in stagflation. It is poised to overtake Brazil this year after having overtaken Russia last year in nominal GDP terms to emerge as the second largest emerging market after China," the report added. The country is expected to register a GDP growth of 7.4 per cent this fiscal, according to the global brokerage firm. "India still offers relative value in a slow-growth world. In our view we see a shallow recovery at home, we estimate growth at 5.5 per cent in FY16 and 6.5 per cent in FY17 (old GDP series)," BofA-ML said in a research note today. According to the old series, the base year for calculation of national accounts was 2004-05. The Central Statistic
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