India’s economic outlook

There have been overlapping crises across the globe, the latest being the liquidity troubles after a series of global bank crises. While the impact appears to have been contained, these uncertainties continue to undermine the confidence among consumers and businesses to spend, therefore impacting economic growth.

Despite this gloom, market analysts believe that this could well be India’s decade. We expect investments to see a turnaround and thrust the economy into sustainable growth. India will likely grow at a moderate pace between 6.0% and 6.5% in FY 2023–24, as the global economy continues to struggle. Growth in the next year will likely pick up as investment kickstart the virtuous circle of job creation, income, productivity, demand, and exports supported by favourable demographics in the medium term.