Leading credit rating firm Fitch Ratings expects that India’s resilient economic growth will boost the demand of the corporate sector.
In its latest research report on ’India Corporates: Sector Trends 2024’, Fitch said that this is a sequel to the robust performance of the corporate sector in 2023 and will offset weakness from slowing growth in the key overseas markets.
Rising demand and easing input cost pressure should boost the margins of the corporates in the next financial year, Fitch said.
Fitch said that with strong domestic demand growth, it is expected that India will be among the world’s fastest-growing countries, with resilient GDP growth of 6.5% during the fiscal 2024-25.
This is despite a challenging global backdrop and the cumulative impact of the recent monetary tightening, it said.
Sectors like cement, electricity and petroleum products are expected to witness a strong demand with high-frequency data in 2023 sustained well above pre-COVID pandemic levels.
Fitch said that India’s improving infrastructure will also boost steel demand. Slowing down in the US and the Eurozone is likely to moderate growth of the IT services.
Fitch said rising domestic auto sales volume should drive revenues of the auto suppliers, while travel and tourism conditions also improved in 2023.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM
Odisha: Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 10:22 AM
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM