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"Accelerating Ahead: Fitch Predicts India Among Fastest-Growing Nations in 2024-25"

Industries such as cement, electricity, and petroleum products are anticipated to experience robust demand in 2023, with high-frequency data consistently surpassing the levels observed before the Covid-19 pandemic.


Fitch Ratings, a prominent credit rating agency, foresees that India's resilient economic growth will drive increased demand for corporates, as reported by PTI. In its most recent research report titled 'India Corporates: Sector Trends 2024,' Fitch notes that this positive trend follows the strong performance of corporates in 2023 and will help counterbalance any weaknesses arising from slowing growth in key international markets.


Building a robust system for moving goods efficiently is crucial for changing India from an economy focused on services to one that is centered around manufacturing.


Fitch Predicts India Among Fastest-Growing Nations in 2024-25

According to Fitch, the enhanced infrastructure in India is expected to drive an increased demand for steel. While the growth of IT services may be tempered by a slowdown in the US and the Eurozone, this is likely to result in a reduction in employee attrition and wage pressures.


S&P Global, a United States-based rating agency, has stated that India is poised to be the swiftest growing major economy over the next three years. The projection suggests a GDP growth of 7 percent by 2026, up from the anticipated 6.4 percent expansion in the present fiscal year.

In the report titled 'Global Credit Outlook 2024: New Risks, New Playbook,' it is mentioned that India is on track to secure the position of the third-largest economy by 2030.


Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.

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