India: Economy to expand 12.1% in FY 2021/22 – Morgan Stanley
Economists at Morgan Stanley upgraded their growth forecasts for India amid a potential economic turnaround in the next fiscal year.
Key quotes
“Forecast for India’s economic growth raised to 12.1% for the next financial year due to supportive policy mix and an expected recovery in domestic and external demand.”
“India's 2022-2023 growth forecast lifted by 50 basis points to 6.7%.”
"We believe the recovery has more legs and India is on the cusp of a virtuous growth cycle."
“We believe that the economy will show a synchronous recovery with a pickup in domestic demand and external demand in the following 12 months.”
“A synchronous recovery in domestic and external demand would help improve capacity utilisation, which would set the stage for an eventual pickup in private capex.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
