Only India among brics to cross 5% growth: Fitch
Rating agency added that the domestic growth would further accelerate
By : DC Correspondent
Update: 2014-10-02 03:05 GMT
Mumbai: Global rating agency Fitch on Wednesday said that India would be the only BRIC country where growth would accelerate to 5.6 per cent in FY’15 due to an expected improvement in business environment.
The rating agency added that the domestic growth would further accelerate to 6.5 per cent in FY’16 and FY’17, as the disappearance of political uncertainty since the new government came to power would help increase investment. On the other hand, Fitch expects China’s GDP growth to moderate to 7.2 per cent in FY’14.
India’s growth rose to 5.7 per cent during April-May, 2014 from 4.6 per cent. The recent rise in GDP growth according to the agency was supported by industry and financial services, as well as a solid performance of the agricultural sector, which is not yet affected by the weak monsoon.