S&P Global Ratings projects India’s economy to remain steady at 6.5% growth in FY25–26, the fastest in the Asia-Pacific region, driven largely by robust domestic demand and continued government investment. “We expect domestic demand to remain strong, supported by a largely benign monsoon season, cuts in income and goods and services taxes (GST), and accelerating government investment,” the agency said in its latest report. Recently, Finance Minister Nirmala Sitharaman stated that GDP growth in FY25–26 could exceed the projected 6.3%–6.8% range, fueled by a surge in consumption following recent GST tariff cuts and a strong Q1 performance. The latest data showed that GDP grew 7.8% in the three months to June 2025 (Q1 of FY26), the sharpest growth in five quarters.
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