Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Rating agency ICRA has lowered India’s GDP growth estimates by 0.5pc. For FY 2021-22, GDP growth has been revised to 10-10.5pc from the previous 10-11pc.


With the second wave of COVID-19, many states in India have either imposed lockdowns or lockdown-like restrictions. Many industries have been mandated to divert their oxygen supplies for medical usage, thus slowing down manufacturing. Consumer confidence has taken a hit amid the uncertainty over the near-term outlook.


In Q1 FY 2022 ending June, ICRA expects growth to be at 20-25pc, tempered from the previous expectations of 27.5pc from a low baseline figure.    

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