India’s GDP Growth : Deloitte Projects Optimistic Trends
According to Deloitte India, expect the Indian economy to grow at a rate of 6.5 to 6.8 percent in the current fiscal year. In the upcoming fiscal year Analysts project GDP growth to be between 6.7 and 7.3 percent. Deloitte India economist Rumki Majumdar stated that in the first six months of FY 2024-25 the growth rate fell below expectations due to uncertainty surrounding elections, heavy rainfall, and political developments affecting domestic demand and exports.
Deloitte India,, “However, there are certain areas where India is demonstrating significant resilience. These include consumer trends, growth in services, an increasing share of high-value manufacturing in exports, and capital markets. We remain cautiously optimistic and expect growth to range between 6.5 and 6.8 percent in the current fiscal year, and between 6.7 and 7.3 percent in the next fiscal year.”
Deloitte India, believes that in the coming year, the government’s focus on infrastructure development and measures to attract FDI will drive improvement, boosting growth rates.
According to Deloitte, India’s growing presence in global value chains in high-value sectors such as electronics, semiconductors, and chemicals demonstrates its strengthening position in exports.