Fitch revises India outlook to stable on recovery, growth prospects
The rating also balances India's external resilience from solid foreign-exchange reserve buffers against some lagging structural indicators.
The rating also balances India's external resilience from solid foreign-exchange reserve buffers against some lagging structural indicators.
This brings India's GDP growth for the March quarter to an one-year low despite managing to outdo expectations by most analysts.
The GDP growth projections range between 5.4% and 9.1%, but there is near-consensus that high inflation and rate hikes will affect India’s economic growth.
Sales tax collection, retail activity and PMIs suggest solid momentum, but high oil prices and supply distortions remain a drag on growth, Moody's says.