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Date: 07/12/2023

India seen driving growth in the Asia-Pacific 

India will drive growth in the Asia-Pacific (Apac) region as the growth engine is likely to shift from China to South and Southeast Asia in the coming years, S&P Global Ratings said in a report. The agency’s report projected China’s growth to slow down to 4.6 per cent by 2026 from an estimated 5.4 per cent in 2023. India is likely to clock 7 per cent economic growth from 6.4 per cent estimated for 2023. It added that India’s retail inflation is projected to moderate to 4.7 per cent by FY27 from 5.5 per cent in FY24, as the policy rate is expected to fall to 5 per cent from 6.5 per cent in the corresponding period. 
 
S&P also said that the growth momentum is susceptible to risks of energy shocks from a widening West Asia conflict and slower global demand, as per a report.  
 
Source: Exim News Service: New York, Dec. 6



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