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Moody's retains 6.7% growth estimate
Mint Mumbai
|November 10, 2023
Moody's Investor Services on Thursday retained India's economic growth at 6.7% for 2023 saying the country has shown remarkable resilience, buoyed by solid domestic demand, amid a global slowdown.
In its report on the global macro outlook 2024-25, Moody's also said India along with emerging market economies Brazil, Mexico and Indonesia is well-positioned to capture a greater share of global trade flows as supply chains are diversified away from China due to geopolitical tensions.
"While India, Brazil, Mexico and Indonesia could emerge as engines of global growth, risks to growth forecasts for these countries are tilted to the upside," it added.
In a separate statement, Export-Import Bank of India (India Exim Bank) said India's total merchandise exports are expected to clock $111.2 billion during Q3, FY24 (October-December 2023), registering a 6.3% annual growth, due to expected spurring of global demand.
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