Fitch Ratings raises India’s GDP growth forecast to 7.4 pc

With the July-September quarter (Q2 of FY26) beating all expectations, Fitch Ratings has upped India’s growth forecast by 50 basis points (bps) to 7.4%. India recorded a growth rate of 8.2% during Q2. Post that, while the government revised the forecast to 7% or more for the entire fiscal, SBI’s research report estimated the growth rate at 7.6%. It has listed private consumer spending as the main driver of growth this year, supported by strong real income dynamics, increased consumer sentiment and the impact of the recently-implemented GST reforms, as per a report.

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