Fitch Ratings raises India’s economic growth forecast to 6.3 percent for current fiscal year

Fitch Ratings has raised India’s GDP forecast to 6.3 percent from 6 percent for current fiscal year. This is primarily because of a stronger out-turn in the first quarter and near-term momentum. Fitch said that the GDP growth in January-March was higher than expected and there has been a recovery in manufacturing, a boost from construction and an increase in farm output. The rating agency has estimated a growth of 6.5 per cent each for 2024-25 and 2025-26 financial years.