Global ratings agency Moody’s Analytics in a report titled “Asia Pacific (APAC) Outlook: A Coming Downshift”, which released on Thursday, has said that India is looking at a slower growth next year.
However, at the same time, it has noted that investments and productivity gains in technology and agriculture could push its growth.
“Risks to this outlook are largely balanced. On the upside, inward investment and productivity gains in technology, as well as in agriculture could accelerate growth,” the report said.
Moody’s projected India’s growth rate to slow down to 8 per cent in 2022 and then to 5 per cent in 2023.
The agency pertinently noted that if inflation in India continues to rise, then the RBI may continue with its repo rate hikes.