Fitch predicts 8% India growth, despite rough patch

Fitch Ratings analyst Art Woo gives Firstpost an 8 percent growth rating for India, despite its economy having hit a rough spot.

Hong Kong: India’s economy may have hit a bit of rough spot, but it’s experiencing a cyclical downturn, and even given the weaknesses in its fiscal position, should be able to revert to 8 percent growth rate, according to the sovereign ratings agency Fitch Ratings.

“Obviously there are issues that need to be rectified in terms of sustaining the reform moment and improving the investment climate, but things should prove okay,” the agency’s Director of Asian Sovereign Ratings, Art Woo, told Firstpost in Hong Kong.

“Over the next 18 to 24 months, we expect the overall balance of economic development in India to stay relatively stable, and India’s rating should stay in place,” Woo said.

Watch excerpts from Art Woo’s interview with Firstpost above.

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Written by Vembu

Venky Vembu attained his first Fifteen Minutes of Fame in 1984, on the threshold of his career, when paparazzi pictures of him with Maneka Gandhi were splashed in the world media under the mischievous tag ‘International Affairs’. But that’s a story he’s saving up for his memoirs… Over 25 years, Venky worked in The Indian Express, Frontline newsmagazine, Outlook Money and DNA, before joining FirstPost ahead of its launch. Additionally, he has been published, at various times, in, among other publications, The Times of India, Hindustan Times, Outlook, and Outlook Traveller. see more