Moody’s sees India’s growth at 7.3%, flags insurance upcycle
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New Delhi: Moody’s Ratings on Monday projected India to clock a 7.3 per cent growth in the current fiscal, and said the strong economic expansion would support average household incomes and stimulate demand for insurance protection.
In its report on India’s insurance sector, Moody’s said the industry looks set to benefit from sustained premium growth on the back of robust economic expansion, increased digitisation, tax changes and a planned reform of the dominant state owned insurance sector. The increase should improve the industry’s currently weak profitability.
“We expect India’s economy to grow by 7.3 per cent in FY 2025 (year to March 2026), up from 6.5 per cent the previous year. This will increase average incomes and support demand for insurance,” it said.
