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Morgan Stanley forecasts 6.5% growth for India next fiscal too
Mint Mumbai
|November 14, 2023
Morgan Stanley Research on Monday said it expects India's economy to grow at 6.5% in FY2024 and FY2025, with strong domestic fundamentals set to reduce any vulnerability to external headwinds.
The research arm of the investment bank, in its 2024 India Economics Outlook, said domestic demand supported by strength in corporate and financial sector balance sheets and the follow-through of policy reform measures will aid India's growth amid a global slowdown.
The latest forecast from Morgan Stanley comes amid escalation of conflict between Israel and Hamas that threatens to impact the oil prices.
Recently, Moody's Investor Services retained India's economic growth at 6.7% for 2023, citing the country's resilience amid a global slowdown buoyed by domestic demand.
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