New Delhi: India will remain the fastest-growing economy in the Asia-Pacific region in 2024, maintaining last year's domestically-driven momentum, Moody's Ratings said on Thursday.
In a report titled Credit Conditions - Asia-Pacific H2 2024 Credit Outlook, Moody's Ratings said Indonesia, the Philippines and India are the growth leaders in H1 2024 and are expected to continue to outperform based on pre-Covid growth numbers. should keep. Growing exports, local demand and government spending on infrastructure.
It said, "India will continue to be the region's fastest growing economy, maintaining last year's domestically driven momentum. We look forward to policy continuity after the general elections and focus on stimulating infrastructure development and private sector investment." Expect continued attention."
Moody's said strong portfolio flows into India and ASEAN economies are likely due to strong corporate credit metrics and attractive valuations.
Last month, the rating agency had projected India's growth rate to grow by 6.8 percent in the current year and then 6.5 percent in 2025 on the basis of continuation of post-election policy as well as strong economic expansion.
India's real GDP is expected to grow by 7.7 per cent in 2023 from 6.5 per cent in 2022 due to strong capital expenditure by the government and strong manufacturing activity.
In a report titled Credit Conditions - Asia-Pacific H2 2024 Credit Outlook, Moody's Ratings said Indonesia, the Philippines and India are the growth leaders in H1 2024 and are expected to continue to outperform based on pre-Covid growth numbers. should keep. Growing exports, local demand and government spending on infrastructure.
It said, "India will continue to be the region's fastest growing economy, maintaining last year's domestically driven momentum. We look forward to policy continuity after the general elections and focus on stimulating infrastructure development and private sector investment." Expect continued attention."
Moody's said strong portfolio flows into India and ASEAN economies are likely due to strong corporate credit metrics and attractive valuations.
Last month, the rating agency had projected India's growth rate to grow by 6.8 percent in the current year and then 6.5 percent in 2025 on the basis of continuation of post-election policy as well as strong economic expansion.
India's real GDP is expected to grow by 7.7 per cent in 2023 from 6.5 per cent in 2022 due to strong capital expenditure by the government and strong manufacturing activity.
