The global ratings agency, Moody’s Ratings, in its new report, highlighted that companies trying to set up manufacturing facilities outside of China could have significant upside for Indian ports as well.

“In Asia, Chinese ports’ financials could weaken, although most have the financial capacity to withstand near-term stresses. And ports in India and Indonesia could benefit from the China+1 strategy – companies’ effort to diversify their manufacturing and supply chain operations by establishing facilities in countries outside China,” Moody’s Ratings said.

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The rating agency on India’s economy said that the country is likely to be less impacted by tariffs than other markets. It pointed to low exposure from US actions and increased reliance on the domestic economy.

“India also has a relatively low overall exposure and more diversified exports to the US. These attributes, plus its large domestic economy, position India well to deal with US tariffs,” it said.

Moody’s Ratings nevertheless had pared down India’s growth forecast to 6.3 per cent for 2025 from 6.7 per cent projected earlier. The ratings agency expects the economy to do better in 2026, with growth rising to 6.5 per cent.

Recently, the United Nations has also revised India’s economic growth downwards for 2025 to 6.3 per cent, and said that despite a projected moderation, the country remains one of the fastest-growing large economies.

The growth will be supported by resilient consumption and government spending, it said.

In its report titled ‘The World Economic Situation and Prospects as of mid-2025’, the UN said the global economy is at a precarious juncture, marked by heightened trade tensions and elevated policy uncertainty.