Fitch Ratings

January 5, 2025 5:42 PM

India’s demand for petroleum products expected to rise by 4%: report

India’s demand for petroleum products, including petrol, diesel, and LPG, is projected to increase by 3-4% in the current financial year ending March 31, 2025, according to a report by Fitch Ratings. The growth is attributed to rising consumer demand, industrial expansion, and infrastructure development, the report noted. For India’s oil marketing companies (OMCs), refinery margins are expected to decline below their mid-cycle levels in FY25, driven by weaker product cracks, regional overs...

June 19, 2024 5:38 PM

India will see higher consumer spending as inflation moderates: Fitch

Fitch Ratings has said that India will see higher consumer spending as inflation moderates, resulting in elevated consumer confidence. The credit rating agency in its June report Global Economic Outlook (GEO) report said that expectations of a better than expected monsoon will support growth and make inflation less volatile. Fitch has revised India's growth forecast upward by 20 basis points to 7.2 percent for fiscal year 2024-25, compared to their earlier forecast of 7 percent in March. Fitc...

September 16, 2024 6:40 PM

Fitch maintains India’s rating at BBB-Stable, as coalition govt takes shape at centre

Fitch Ratings has maintained its assessment of India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, despite the coalition government following the recent election results. The affirmation of India's rating highlights Fitch's confidence in the nation's economic resilience and potential for growth, even in the face of political fragmentation. Traditionally, coalition governments are perceived as unstable, often leading to slower policy implementation an...