Global rating agencies S&P and Fitch on Wednesday raised India’s FY27 GDP growth projection to 7 per cent and 6.9 per cent, respectively, boosted by robust June quarter economic activity.
Asian Development Bank (ADB) has also raised India’s FY27 growth forecast to 7 per cent, from 6.6 per cent estimated in July.
The growth upgrades by the three global agencies came close on the heels of US-based Moody’s Ratings raising GDP growth forecast for the fiscal year to 7 per cent, making India the fastest-growing among all G20 economies.
The Indian economy grew higher than expected at 7.8 per cent in the June quarter, driven by robust industrial activity, healthy consumption, strong goods exports, and accelerating government investment.
In its Economic Activity for Asia Pacific report, S&P upgraded India’s GDP growth forecast for the current fiscal year to 7 per cent, from 6.6 per cent previously, and projected consumer inflation to average 5.1 per cent in FY27.
The Indian economy grew at 7.7 per cent in the previous fiscal year (2025-26).
-PTI Inputs
