Moody’s Investors Service in its latest report has projected that the economic growth in India will rebound strongly. It has pegged GDP growth for the nation at 9.3% and 7.9% in FY22 and FY23, respectively. India recently hit record Covid-19 vaccination rates. Moody’s notes that the vaccination drive in India has gathered pace after the second wave.
Around 30% of the population of India is now fully vaccinated with two doses while around 55% of the population has received at least one dose. Improved vaccination coverage has led to stabilisation in consumer confidence.