
Govt incentives to increase EV penetration in India: Moody's
India has the fourth-largest car market globally, but EV penetration is currently only around 1%, says Moody's.
India has the fourth-largest car market globally, but EV penetration is currently only around 1%, says Moody's.
The impact will be limited for most rated financial institutions in Asia-Pacific (APAC), says Moody's.
Moody's Investors Service has increased India's GDP growth estimate from 4.8% to 5.5% for 2023.
Budget 2023 is credit positive for renewable energy companies, cement and steel producers, oil marketing companies and automakers, says Moody's.
The upgrade reflects an improvement in India's macro profile to "Moderate+" from "Moderate", says Moody's.
Elevated commodity prices will keep spending on food and fuel subsidies high for economies like India, says Moody's Investors Service.
India suffered a year-on-year decline in the value exports in October.
After IMF, Moody’s revises India’s growth forecast on higher inflation, high-interest rates and slowing global growth, which is expected to dampen economic momentum.
Moody's retains its sovereign rating for India at Baa3 with a stable outlook.
This is the third cut in India's GDP growth forecast by Moody's this year.