S&P affirmed its 'BBB-' long-term and 'A-3' short-term, unsolicited foreign and local currency sovereign credit ratings while retaining the outlook on the long-term rating at stable.
India's economy is expected to grow by 6.7 per cent in the calendar year 2024, supported by resilient domestic demand, according to a UN report which said higher interest rates and weaker external demand will continue to weigh on investment and exports this year for the country.
India is projected to grow at 5.9 per cent in 2023-24 and 6.3 per cent in 2024-25, according to the International Monetary Fund. While this makes India the fastest-growing large economy in the world, the forecast is significantly lower than the Reserve Bank of India's (RBI) projection of 6.5 per cent economic growth for FY24.
Business Today event 2023: In a riveting session, Piramal Group Chairman Ajay Piramal and Business Today Editor Sourav Majumdar shared insightful perspectives on the challenges and opportunities in India s business landscape. Watch this Business Today Visual Story to know more.
New car sales in India in fiscal 2022 ended March jumped 28.2 percent from a year ago to 4.85 million units, surpassing annual sales in the Japanese market, industry data showed.