MUMBAI (Reuters) - Fitch Ratings raised its growth forecast for the Indian economy to 6.3% for the current fiscal year, from 6% earlier, on the back of robust growth in the first quarter and strong
While highlighting the economy's resilience and impending private sector investment growth, the ratings agency also highlights an uneven reform record of the Indian govt.
Capex was flat over FY19 to FY21 and grew 16% in FY22. The forecasts are for 8 state owned enterprises and 21 privately held Fitch-rated corporates in India.
The Securities and Exchange Board of India (SEBI) cancelled the certificate of registration of the credit rating agency due to repeated lapses in the functioning.
“This is a downward revision from our 8.5% forecast in March as inflationary impacts of global commodity price shock are dampening some of the positive growth momentum,” the ratings agency said.
The investor service said India's credit profile is increasingly constrained by low growth and high debt burden, which have been exacerbated by the pandemic.
Mineral security is no longer just an economic concern but a national security imperative, underpinning the country’s ambitions in clean energy, defence self-reliance, and advanced manufacturing.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
BJP has no dynastic succession, at least not at the top. You can trace this back to Vajpayee-Advani era. This act of spotting, empowering younger talent is even more striking with the choice of BJP presidents.
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