India is not just growing faster than many others, but also growing despite the global turbulence. Credit ratings agency Moody's has raised India's real GDP growth forecast to 7% from 6% for the current fiscal, citing its resilience amid the Middle East conflict.
Though the agency said elevated energy prices and El Nino-related food price pressures pose risks to inflation, consumption and growth, it expects India to grow faster than all other G-20 economies, as well as similarly rated emerging market economies.
