Moody’s has predicted a 7.2% growth for India’s economy in 2024, driven by increased household consumption and moderating inflation. The forecast highlights strong demand during the festival season and rural spending boosted by favorable weather conditions. Despite occasional food price volatility, inflation is expected to stabilize, with the RBI maintaining tight monetary policies.

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• Moody’s forecasts 7.2% GDP growth for India in 2024.
• Growth is driven by increased household consumption and rural demand.
• Strong festival season demand and good monsoons expected to boost rural spending.
• Inflation expected to moderate towards the Reserve Bank of India’s target.
• Inflation risks include food price volatility and geopolitical tensions.
• RBI likely to maintain tight monetary policies into 2024-25.
• Moody’s estimates 6.6% growth for India in 2025 and 6.5% in 2026.
• G-20 economies expected to grow by 2.8% in 2024, down from 3.0% last year.
• US economy outperforming other developed nations, but growth to slow.
• Europe’s recovery slow but expected to gradually strengthen, while China’s growth may decelerate.