Moody’s predicts strong economic growth for India in 2024-25, surpassing other emerging market G20 peers. The country’s real GDP rose 8.4% YoY in the October-December 2023 quarter, attributed to solid capital expenditure and robust service sector activity, overcoming sluggish private consumption. Moody’s expects growth stabilization in G20 emerging markets, projecting a 4.0% growth rate for 2024-25. In India, the agency foresees policy continuity post the upcoming general election and a continued focus on infrastructure development, forecasting a real GDP growth of 6.8% in 2024 and 6.4% in 2025.
India has remained the fastest-growing major economy, with a notable 8.4% GDP growth in the October-December 2023 quarter. Driven by strong domestic demand, India aims to become the world’s third-largest economy within the next three years, reaching a GDP of US$ 5 trillion. The Finance Ministry envisions India becoming a US$ 7 trillion economy by 2030.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.