According to a recent Reuters poll, India’s economy is expected to grow by 6.7% during the current fiscal year, surpassing earlier projections. This upward revision reflects resilient domestic demand and steady industrial activity despite ongoing global economic uncertainties. The finance ministry noted that recent reductions in goods and services tax (GST) rates are likely to stimulate consumer spending, providing a boost to overall economic momentum. However, challenges such as fluctuating international trade conditions and potential U.S. tariff policies could pose risks to future growth. The International Monetary Fund estimates that India will outpace China with a 6.6% expansion in 2026, highlighting the country’s increasing role in the global economy. Officials emphasize efforts to diversify trade partnerships to reduce dependency on any single market.
— news from Reuters