The global ratings agency S&P Global on November 25 updated its economic forecasts for Asia-Pacific economies after US election results as per which it has lowered its projection for India’s GDP growth to 6.7% for FY26 and 6.8% for FY27.
S&P Global has retained its outlook at 6.8% GDP growth for FY25. “In India we see GDP growth easing to 6.8% this fiscal year as high interest rates and a lower fiscal impulse temper urban demand. While purchasing manager indices (PMIs) remain convincingly in the expansion zone, other high-frequency indicators indicate some transitory softening of growth momentum,” the ratings agency said in its report.
S&P Global has retained its outlook at 6.8% GDP growth for FY25. “In India we see GDP growth easing to 6.8% this fiscal year as high interest rates and a lower fiscal impulse temper urban demand. While purchasing manager indices (PMIs) remain convincingly in the expansion zone, other high-frequency indicators indicate some transitory softening of growth momentum,” the ratings agency said in its report.
The agency expects India’s GDP to grow at 7% in FY28, it said.
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