Global rating agency Fitch today raised India's GDP growth forecast for FY25 to 7.2 per cent, from 7 per cent.
The rating agency said in its report that recovery in consumer spending and increasing investment trends are the main factors for this update.
Fitch said in its global outlook report, "We expect the Indian economy to grow by a strong 7.2 per cent in FY25."
The estimate released by Fitch states that the Indian economy may grow at 6.5 per cent and 6.2 per cent in FY26 and FY27 respectively.
The rating agency said in its outlook, "Investments will continue to rise but it will be slow in comparison to recent quarters while consumer spending will recover with elevated consumer confidence."
The rating agency says that the retail inflation rate may come down to 4.5 per cent at the end of this year. It is estimated to be 4.3 per cent in 2025 and 2026.
Earlier, the World Bank raised India's GDP growth forecast to 6.6 per cent from 6.4 per cent.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
5 kg Jewellery, Bike With Gold Parts: Bihar Man's Love For Yellow Metal
Global Car Sales To Decline By 3.1 Million Units In 2019: Study Fitch Lowers India's Growth Forecast To 6.9% From 7.4% For FY18 Economy to grow at 6.1 per cent in FY14: India Ratings Tinder Date Gone Wrong: Man Scammed To Pay Rs 1.2 Lakh Bill At Delhi Cafe Arvind Kejriwal Sent To 14-Day Judicial Custody In Delhi Liquor Policy Case "Indira Gandhi Put Us In Jail, But Never Abused Us": Lalu Yadav Devotees Recite Hanuman Chalisa At Temples Before T20 World Cup Final Cars, Buses Swept Away By Strong Currents In Haridwar After Heavy Rain Exclusive: NASA To Train 2 Indians, Send One Of Them To Space - ISRO Chief Track Latest News Live on NDTV.com and get news updates from India and around the world.