Fitch Raises India’s GDP Forecast to 6.3% for FY24, Citing Strong Economic Momentum

Ratings agency Fitch has revised its GDP forecast for India, predicting a growth rate of 6.3% for the financial year 2023-24 (FY24). This upward revision from the previous projection of 6% comes as a result of the country’s near-term momentum and a robust performance in the first quarter.
Fitch highlights the broad-based strength of India’s economy, citing various positive indicators such as a 6.1% year-on-year GDP growth in the first quarter, resilient auto sales, PMI surveys, and credit growth in recent months.