J.P. Morgan, a leading global financial institution, has revised its projection for India’s annual growth rate, raising it to 5.5% for fiscal year 2024.
The upward adjustment comes in the wake of India’s stronger-than-expected economic performance, with a growth rate of 6.1% recorded in the March quarter.
However, J.P. Morgan also cautions that the Indian economy is not immune to the challenges posed by a potential global economic slowdown and tighter financial conditions.