India’s medium-term growth to slow down to around 6.5% after initial rebound, says Fitch Ratings
The ratings company said that India’s economy was currently in a recovery phase, which will be supported by the roll out of coronavirus vaccines. Jan 14, 2021 · 12:11 pm The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London | Reinhard Krause/Reuters
United States-based credit rating agency Fitch Agency on Wednesday said that India’s growth will slow down to about 6.5% per year between the financial year 2023-’26 following an initial rebound in 2021-’22.
“A combination of supply-side scarring and demand-side constraints – such as the weak state of the financial sector – will keep the level of Gross Domestic Product well below its pre-pandemic path,” Fitch said.