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Fitch raises India FY25 GDP forecast to 7% from 6.5%

Fitch raises India FY25 real gross domestic product (GDP) forecast to 7 percent from 6.5 percent earlier, Reuters reported on March 14. The rating agency revised upwards its projection for India's economic growth for the current and next fiscal years, citing robust domestic demand and sustained growth in business and consumer confidence. However, it moderated its view on rate cuts.Fitch anticipates India's economy to maintain its sturdy expansion, with the real GDP forecasted to rise by 7 percent in FY25, commencing in April. This marks a 50 basis points (bps) increase from its December forecast, as mentioned in its recent report. India's economy expanded by 8.4 percent in October-December FY23, marking its fastest pace in 18 months, led by robust manufacturing and construction activities.