Moody's Ratings on Tuesday projected a 6.6% growth rate for the Indian economy in the fiscal year ending March 2025 (FY25).

The forecast attributes the growth to strong credit demand and robust economic performance, which will support the profitability of non-bank finance companies (NBFCs).

Moody's highlights that despite rising funding costs for NBFCs, the vigorous credit demand driven by India's economic growth will bolster the sector's profitability.