After India achieved world-beating financial development final yr, its policymakers are scrambling to go off a pointy slowdown as worsening world circumstances and home confidence wipe out a latest inventory market rally.
On Tuesday, Asia’s third-largest financial system forecast an annual development of 6.4% for its fiscal yr ending March, the slowest in 4 years and beneath the federal government’s preliminary projections, weighed by weaker funding and manufacturing.
The downgrade follows disappointing financial indicators and a slowdown in company earnings within the second half of 2024, which have compelled buyers to rethink the nation’s earlier outperformance and forged doubts over Prime Minister Narendra Modi’s formidable financial targets.
