labels: economy - general
Moody''s projects 6.5 per cent annual growth for India news
Our Corporate Bureau
08 April 2004

New Delhi: Moody's has said the country's economy is proving to be stronger than other countries, which have the similar Baa3 foreign currency rating.

"The country's external financial position is consistent with or even stronger than its Baa3 peers," Moody's has said in its annual report on India.

Moody's has said the country's Baa3 foreign currency ceiling for debt and stable outlook reflect strong external liquidity and a vibrant growth outlook.

Te rating agency has projected the economy to grow at an average annual rate of 6.5 per cent in the coming years. It has said though this would mean a slight slowing down from the growth in the current fiscal, it would nevertheless be a "respectable" rate.

"Even at just 6.5 per cent, India is likely to attract much more capital going forward than has been the case historically," Moody's has said.

It has said the growth trend would be difficult to maintain "in the absence of increased investment in human and physical infrastructure and a fiscal adjustment that would leave more room for private investment to expand."


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Moody''s projects 6.5 per cent annual growth for India