India’s Economic Reforms Will Bear Fruit in Years Ahead: Moody’s

Moody’s revised India’s current year growth forecast down to 6.7 percent.

A Moody’s sign is displayed on 7 World Trade Center, the company’s corporate headquarters in New York. 

(Photo: Reuters)

Moody’s Investors Service has upgraded India’s sovereign rating for the first time since 2004, citing continued progress in the nation’s economic and institutional reforms.

The impact of which, the rating agency said will materialise in the coming years. “We expect growth to sustain at high levels which will help government’s fiscal metrics,” Marie Diron, associate managing director of Moody’s Investor Service told BloombergQuint in an interview.

Moody’s also revised India’s current year growth forecast down to 6.7 percent. However, they expect growth to rebound to 7.5 percent next year.

(The story was originally published on BloombergQuint)

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