India’s long-term growth trend is diverging from those of advanced economies. But its growth cycles have become remarkably synchronised with the latter since the 2000s
This time will be no different. The deceleration of major developed economies underway will create downside risks for CRISIL’s India growth outlook of 6.5% for fiscal 2024. The lagged impact of tightening monetary policy domestically and globally, will add to it
That said, India is set to remain a relative growth outperformer in the current and next fiscal. Strong consumption demand, healthy balance sheets of corporates and banks, and infrastructure focus of the government will support the economy
