Category : Business and economicsPublished on: March 16 2024
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Fitch Ratings has revised India's economic growth forecast for the fiscal year 2024-25 to 7%, citing robust domestic demand and sustained business and consumer confidence levels.
The Indian economy surpassed expectations with a GDP growth of 8.4% in the third quarter of the current fiscal year. Fitch projects a growth rate of 7.8% for the 2023-24 financial year, slightly higher than the government's estimate.
Fitch emphasizes that domestic demand, particularly investment, will be the primary driver of India's economic growth. It anticipates real GDP to increase by 7% in FY25, supported by sustained levels of business and consumer confidence.
