Country's economy will grow rapidly in 2024-25, Fitch estimates GDP growth rate at 6.9 percent for 2023-24
Fitch Ratings expects India to be one of the fastest growing countries in the world with GDP growth of 6.5% in 2024-25. The rating agency estimates GDP growth for the 2023/24 financial year at 6.9 percent. Fitch said in a report that demand for cement, power and petroleum products is expected to remain strong this year.
Fitch Ratings expects India to be one of the fastest growing countries in the world with GDP growth of 6.5 percent in 2024-25. The rating agency has estimated the GDP growth rate for the current financial year 2023-24 at 6.9 percent.
Fitch said in its report, 'Demand for cement, electricity and petroleum products will remain strong in the current financial year. India's growing infrastructure spending will also boost steel demand. Car sales will also continue to increase.
Fitch said in a report on Friday that GDP is expected to slow down after fast growth in 2023. India is currently the fifth largest economy in the world after the US, China, Germany and Japan. India's GDP is expected to exceed that of Japan by 2030. If this happens, India will become the second largest economy in the Asia-Pacific region.
%20(1).jpg)
