India set to remain fastest-growing economy in Asia-Pacific: Moody's

This projection follows the momentum built in the previous year, driven largely by domestic factors.

Ratings agency Moody's said that India is expected to remain the fastest-growing economy in the Asia-Pacific region in 2024.

This projection follows the momentum built in the previous year, driven largely by domestic factors.

In its report titled 'Credit Conditions – Asia-Pacific H2 2024 Credit Outlook,' released on June 13, Moody's highlighted that Indonesia, the Philippines, and India have led the growth in the first half of 2024.

"India will remain the region's fastest-growing economy, sustaining last year's domestically driven momentum. We anticipate policy continuity after the general election, and a continued focus on infrastructure development and encouragement of private sector investment," said the report.

The agency also mentioned that India and ASEAN economies are likely to see stronger portfolio inflows due to robust corporate credit metrics and attractive valuations.