MOODY’S CUTS INDIA FY27 GROWTH ESTIMATE TO 6%

Moody's Ratings has slashed India’s economic growth estimates for the current fiscal to 6% from 6.8% earlier, saying the ongoing conflict in West Asia will moderate growth momentum and raise inflation risks.

- Press Trust of India

In its credit opinion report on India, Moody’s said prolonged disruptions, particularly liquified petroleum gas (LPG) shipments due to the conflict, would lead to near-term household shortages, higher fuel and transport costs, and spillovers to food inflation through India’s reliance on imported fertilisers.

The region accounts for around 55% of crude oil imports and over 90% of LPG supplies to India.