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S&P Global Ratings raised its GDP growth projection for India in the current fiscal year, FY27, to 7 percent, citing robust industrial activity, healthy consumption, strong goods exports and accelerating government investment, according to its Economic Activity for Asia Pacific report published on 23 September 2026. The agency also forecast that the Reserve Bank of India could raise interest rates by 25 basis points during FY27 and estimated that consumer inflation would average 5.1 percent for the year. The upgrade followed the Indian economy expanding by a higher than expected 7.8 percent in the June quarter.