FICCI encouraged by the confidence of rating agencies in India’s growth revival

New Delhi: FICCI is encouraged by recent views on revival of growth in coming periods, by rating agencies Fitch and S&P, and receives it with prudent optimism.

Being announced at a time when India faces twin challenges of an economic setback due to the pandemic and a limited fiscal space, the confidence is clearly founded on the potential of the exhaustive reform steps announced, and expectation of stability in the financial sector.

FICCI believes that effective implementation of policies and sustained expansion of much-needed reforms for factors of production, a resurgence in the agri-economy, and revival of the demand and consumer sentiment is essential for the return to a virtuous economic cycle.