Moody's Upgrades India's Growth Outlook for 2024

  • Positive Revision: Moody's Investors Service, a global rating agency, has upgraded India's GDP growth forecast for calendar year 2024 to 6.8%.
  • Strong Momentum: This revision reflects India's robust economic performance in 2023, exceeding expectations with 8.4% growth in the last quarter.
  • Leading the Pack: The upgrade positions India as the fastest growing major economy among G20 nations.
  • Key Drivers: Government spending on infrastructure and a thriving manufacturing sector are credited for propelling India's economic growth.
  • Looking Ahead: Moody's anticipates a moderate slowdown to 6.4% growth in 2025 but remains confident in India's economic trajectory.

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