S&P raises FY25 GDP forecast to 6.8% for India
India, Indonesia, the Philippines, and Vietnam expected to post robust growth in the Asia-Pacific
India, Indonesia, the Philippines, and Vietnam expected to post robust growth in the Asia-Pacific
HSBC's fash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 61.3 this month compared to February's final reading of 60.6.
Titled the 'Global Credit Outlook 2024: New Risks, New Playbook,' the report expects the country to be the fastest-growing major economy in the next three years.
S&P Global slashes its outlook for growth in FY25 to 6.4%, from 6.9%
Capital accumulation led by growth in private capital investment is expected to be the key driver of growth during this period, says the report.
The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from September's six-month low of 54.3 to 55.1 in October.
The ratings agency expects RBI's monetary policy committee to hike the key policy rate by another 50 basis points to 5.9% in FY23.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell to 54.0 in March from 54.9 in February.