Bangkok--22 Aug--Standard & Poor's Ratings Services
A new article by Standard & Poor's Ratings Services says that India's economy is growing at an average rate of more than 8% in the past three years, making it the second-fastest growing economy in the world.
"This sustained growth performance is driven by a combination of domestic consumption and investment, supplemented by gains from rapid integration with the global economy through exports, and capital inflows," explained Standard & Poor's contributing author Subir Gokarn.
The threat from high oil prices has, so far, failed to weaken the momentum. We expect the growth to moderate a bit but remain strong at 7.3% for full-year 2007 (April 2006-March 2007).
The report is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com . If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-9823 or sending an e-mail to [email protected] . The report is also available at www.sandp.com/gfir , listed under Global Fixed Income Research. If you have not previously registered with the site, you will need to do so to access this material. Registration requires minimal information and is free. Members of the media may request a copy of this report by contacting the media representative name provided.
Media Contact:
David Wargin, New York (1) 212-438-1579
[email protected]
Analyst Contact:
Subir Gokarn, India 91 11 23721603
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