Top rating agency Moody's has said, India is less exposed to external shocks. It attributed this to country's resilient growth and reforms momentum. In a report published today, Moody's forecasted that India will clock the highest growth rate of 7-7.5 per cent among G20 economies in 2015 and 2016. Moody's said, India's growth and the policy reforms will slowly stabilise inflation, improve the regulatory environment, increase infrastructure investment and lower government debt ratios. The rating agency made a special mention of India's significant monetary tightening in 2013, coupled with some fiscal consolidation, which is an example of effective macroeconomic management that restored macroeconomic stability, albeit at the expense of near-term growth.