Moody’s Analytics forecasts India’s economy to expand by 6.1% in 2024, a decrease from the 7.7% growth recorded in 2023. The report attributes this to the lingering effects of the COVID-19 pandemic and other disruptions. While South and Southeast Asian economies are expected to show strong gains, India’s growth is tempered by a delayed post-pandemic recovery. Despite this, the Asia-Pacific region outperforms the global economy, with a projected growth of 3.8%. However, concerns remain about inflation, particularly in India, where recent rates approach the upper end of the Reserve Bank of India’s target range. Geopolitical tensions and food price uncertainties further contribute to inflationary pressures.
Moody’s Analytics Projects India’s Economy to Grow by 6.1% in 2024
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