Fitch Ratings anticipates strong economic growth in the Asia Pacific region for 2024, projecting India’s GDP to increase by about 5%. This outlook extends to Indonesia and other emerging markets, with improvements expected in their banking sectors. Despite challenges such as slower Chinese growth and geopolitical tensions, Fitch remains optimistic due to the region’s robust growth trajectory. The easing of Sino-US tensions is noted, but ongoing challenges are expected, prompting companies to diversify their supply chains. Overall, Fitch emphasizes the resilience of APAC’s economy, underpinning positive prospects across various sectors.
