Last Updated on 4 weeks by INDIAN AWAAZ
Aditya Raj Das
Fitch Ratings has said that India is poised to remain one of fastest-growing economies in the world in next few years. The rating agency has also affirmed India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB (minus)’ with a stable outlook.
Fitch has made an upward revision to India’s growth forecast for fiscal year ending March 2023, with the growth rate now seen at 6.9 percent, as compared to a forecast of 6 percent issued in May last year. The GDP growth rate will, however, ease to 6.5 percent in fiscal year 2024-25, it said. Fitch stated that investment is likely to remain a key growth driver, as the government’s capex drive is likely to continue and private investment should accelerate gradually.