FY27 GDP Forecasts for India Raised by Global Agencies
Why in the news
Several global institutions upgraded India’s growth outlook for FY27 in September, citing resilience amid the West Asia conflict.
Key facts
- Now seeing FY27 growth at 6.9-7.1% are the ADB, OECD, Fitch and S&P Global.
- Each of these four also expects the RBI to hike rates later in the year.
- Every one of the five global agencies is now above the RBI’s 6.7% estimate.
| Agency | September FY27 view | Previous view |
|---|---|---|
| Fitch | 6.9 | 6.4 |
| Moody’s | 7.0 (revised the week before) | 6.0 |
| S&P Global | 7.0 | 6.6 |
| ADB | 7.0 | 6.6 |
| OECD | 7.1 | 6.3 |
Other projections
- Goldman Sachs 6.5 (June) and World Bank 6.6 (June).
- IMF: 6.4 (July). RBI: 6.7 (August).
Reasons for the upgrades
- GDP grew 7.8% in April-June, faster than expected.
- Drivers: momentum in investment, steady consumer demand and robust industry.
Exam angle
- Highest forecast: OECD at 7.1%; lowest of the upgrades: Fitch at 6.9%.
- RBI’s own FY27 projection: 6.7%.