India's economy is growing, which will raise business demand: Ratings from Fitch

 India's economy is growing, which will raise business demand: Ratings from Fitch

India's economy is growing, which will raise business demand: Ratings from Fitch

According to leading credit rating agency Fitch Ratings, business demand would be driven by India's sustained economic expansion.

According to leading credit rating agency Fitch Ratings, business demand would be driven by India's sustained economic expansion.

Prominent credit rating agency Fitch Ratings anticipates that business demand would increase due to India's steady economic expansion.

According to Fitch, this is a continuation of the corporates' good performance in 2023 and will counteract weakness from slower development in important foreign markets, according to its most recent research study on "India Corporates: Sector Trends 2024."

According to Fitch, increased demand and lessening input cost pressure could result in higher corporate profits in the next fiscal year. According to Fitch, India is predicted to develop at one of the quickest rates in the world with a robust GDP growth of 6.5% in FY 2024–2025 due to strong domestic demand growth.

This is in spite of the difficult global environment and the accumulation of the recent monetary tightening. In 2023, there is anticipated to be significant demand in sectors including cement, electricity, and petroleum goods, since high-frequency data indicates that demand has surpassed pre-COVID pandemic levels.

Steel consumption would rise as a result of India's improved infrastructure, according to Fitch. Growth in IT services is probably going to be slowed by the US and Eurozone recessions. According to Fitch, increasing domestic vehicle sales volumes could increase auto suppliers' earnings in 2023 as travel and tourist circumstances also improve.