Fitch Ratings India vaccine economy Government Fitch Ratings India

Fitch sees covid-19 adversely impacting India's medium-term growth trajectory

Indian economy even with a rollout of coronavirus vaccine unlikely to fully restore the economy to health over the next five years, Fitch Ratings said on Thursday, while lowering its estimate of potential growth to 5.1% on average over 2020 to 2025, from 7% before the pandemic.The rating agency said even though government has pre-ordered 1.6 billion doses of vaccines, including 500 million doses of the Oxford/AstraZeneca vaccine, it seems likely that the vaccine rollout over the next 12 months will not reach the majority of the population given the huge logistical and distribution challenges. “The rollout of the vaccine will require unprecedented cooperation among manufacturers, governments, cargo operators and ground workers.

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