India's economy to grow 7.2% in 2024: Moody's

NEW DELHI: The Indian economy is in a sweet spot, with a mix of solid growth and moderating inflation, global ratings agency Moody's Ratings said on Friday and forecast 7.2% growth for calendar year 2024, followed by 6.6% in 2025 and 6.5% in 2026.

Moody's said India's economy is growing robustly and has the potential to sustain high growth rates as strong private sector financial health reinforces a virtuous economic cycle. RBI has projected a GDP growth rate of 7.2%, while government expects it to grow in the range of 6.5%-7%.

The report said household consumption is poised to grow, fuelled by increased spending during the ongoing festive season and a sustained pickup in rural demand on the back of an improved agricultural outlook. It also said that rising capacity utilisation, upbeat business sentiment and govt's continued thrust on infrastructure spending should support private investment.


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