S&P Global Ratings on Thursday said the Indian economy is projected to grow at 11% in the current fiscal, but flagged the “substantial” impact of broader lockdowns on the economy.
In its report on Asia-Pacific Financial Institutions, S&P said the control of COVID-19 remains a key risk for the economy.
“Our forecast growth of 11% for India... is followed by a 6.1%-6.4% forecast increase for the next couple of years... The impact of broader lockdowns on the economy could be substantial, depending on their length and scope,” it said.
