On CNBC, Sonal Varma of Nomura said the Reserve Bank of India is expected to announce a "final" 25 basis point rate increase in February due to "elevated core inflation."

India's central bank has aggressively increased interest rates since May, and a rate hike in February should be the last increase of this cycle. She also added that "forward looking growth signals are pointing towards slow-down" in the economy.

Don't forget to check out our premarket coverage here

Based on the currently available information, India's GDP growth is likely to slow down to 4.5% year-over-year in 2023. However, growth expectations from the consensus are closer to 5.8%, with the central bank expecting growth slightly above 6%.

Shares of leading India-based companies could be impacted by the RBI's moves. US-listed Tata Motors Limited (NYSE:TTM) fell 0.9%, while Infosys Limited (NYSE:INFY) added 0.7% on Friday.

Check This Out: Delta Air Lines, American Tower, Rocket Lab USA, D.R. Horton And This Sector Are CNBC's 'Final Trades'

Photo: courtesy of Unsplash