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: 50bp Rate Cut, 100bp of CRR Cuts Pave the Way for Faster RGDP Growth

India: More Rate Cuts Likely as Inflation Edges to the Bottom of RBI's Target Range

India: Continuing Disinflation Highlights RBI's Renewed (Mild) Policy Error

India: RBI Turns Accommodative; Expect Another 100bp of Rate Cuts by Dec'25

How Is the Decline in Oil Prices Reshaping India’s Economy?

India: A Budget to Revive PCE, Labour-Intensive Exports & Urban Governance

India: Inflation Likely Averaging 3.2%YoY in Apr-Dec'25 Will Allow 100bp of Rate Cuts

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>Real GDP grew 7.4%YoY in Q4/FY25 with PCE and GFCF growing 7%+, bringing FY25 growth to 6.5%, and the 4yr moving average of real GDP growth to 8.25% for FY22-FY25. </li>
<li>Manufacturing decelerated to 4.5% growth in FY25 (from 12.3% in FY24), as high interest rates constrained GFCF, until a 25bp cut in Feb'25 enabled GFCF to rebound 9.4% in Q4/FY25.</li>
<li>With interest rates set to decline 100bp from Apr-Dec'25, GFCF should grow 10.5% in FY26, while PCE accelerates to 7.5% growth, enabling real GDP to grow 8.5% in FY26.</li>
</ul>


Real GDP grew 7.4%YoY in Q4/FY25 with PCE and GFCF growing 7%+, bringing FY25 growth to 6.5%, and the 4yr moving average of real GDP growth to 8.25% for FY22-FY25. 
Manufacturing decelerated to 4.5% growth in FY25 (from 12.3% in FY24), as high interest rates constrained GFCF, until a 25bp cut in Feb'25 enabled GFCF to rebound 9.4% in Q4/FY25.
With interest rates set to decline 100bp from Apr-Dec'25, GFCF should grow 10.5% in FY26, while PCE accelerates to 7.5% growth, enabling real GDP to grow 8.5% in FY26.


India: Real GDP Grew 7.4%YoY in Jan-Mar'25; Likely to Accelerate to 8% This Year