Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

PK Basu has 35 years experience covering Asia's economies and markets (equities, fixed income and currencies), including 20 years covering the global economy. He was Chief Economist (SE Asia & India) at Credit Suisse First Boston for 5 years, and Chief Asia (x-Jpn) Economist at Daiwa Securities for a similar period. Among other roles, he was global head of research at Maybank Kim Eng, Malaysia equity research head and chief ASEAN economist at Macquarie, Chief Economist at ICICI Securities, ASEAN economist and Asia sector strategist at UBS and the first chief economist at Khazanah Nasional (where he was co-head of research, and led all agri-business initiatives). PK Basu started his career in the Asia Service of WEFA (Wharton Econometrics) in Philadelphia in 1990, rising to be Director of their Asia Service in June 1994. 
PK's book, "Asia Reborn: A continent rises from the ravages of Colonialism and War to a New Dynamism" won the Tata Literature First Book Award (non-fiction) for 2018. It is the first single chronicle of the modern economic and political history of the whole of Asia (from Iraq and Turkey to Korea and Japan, and everything in between), told from an Asian perspective.

Chief Economist & Political Strategist

India: INR and Equities Under-Valued, with Small CAD, and EPS Set to Accelerate

India: No Rate Hike in FY27, as Growth Slows a Tad and CAD Widens to 1% of GDP

India Twin Deficit Watch: CAD Small; Strong Corp-Tax & GST Revenue Boosts Fiscal

India: Soaring Current Account Deficit Signals a Threat to the Rupee

India: CA Surplus Likely Despite US Tariffs; Tame Inflation Allows More Rate Cuts

India Twin Deficit Watch: CAD Shrinking to 0.2% of GDP, Fiscal Deficit Back on Target

India: RBI Cuts 25bp but the Real Policy Rate Is Still Too High at +5%

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>Hurt by soaring US import tariffs in Aug'25-Mar'26, India's goods exports grew just 0.9% in FY26, while imports (bolstered by higher prices) grew 6.5%, widening the trade deficit to US$333bn.</li>
<li>Services exports have continued strongly outpacing imports. For the year to Feb'26, services imports grew 4%, services exports +9.6% and the services-trade surplus widened 16% to US$214bn.  </li>
<li>With an incomes surplus of US$100bn+ likely, the CAD is likely to be 0.5-0.6% of CAD in FY26, widening to 1% of GDP in FY27 amid higher crude oil prices. </li>
</ul>


Hurt by soaring US import tariffs in Aug'25-Mar'26, India's goods exports grew just 0.9% in FY26, while imports (bolstered by higher prices) grew 6.5%, widening the trade deficit to US$333bn.
Services exports have continued strongly outpacing imports. For the year to Feb'26, services imports grew 4%, services exports +9.6% and the services-trade surplus widened 16% to US$214bn.  
With an incomes surplus of US$100bn+ likely, the CAD is likely to be 0.5-0.6% of CAD in FY26, widening to 1% of GDP in FY27 amid higher crude oil prices. 


S&P BSE SENSEX Index (SENSEX INDEX EQUITY)

Higher Import Prices and Modest Export Rebound to Push CAD to 1% of GDP in FY27