S&P ups India FY24 growth projection to 6.4% from 6%

Global ratings agency S&P on Monday raised India's GDP growth projection for 2023-24 to 6.4% from the previous 6%, citing robust domestic demand. "We have revised up our projection for India's GDP growth for fiscal 2024 (ending in March 2024) to 6.4%, from 6%, as robust domestic momentum seems to have offset headwinds from high food inflation and weak exports," S&P Global Ratings said in its economic outlook for Asia-Pacific. Several agencies have raised India's GDP growth forecasts in recent months.