UBS has upped India’s GDP growth forecast by 10 basis points (100 basis points mean 1 percentage point) to 6.3 per cent.

• It also has increased India’s FY25 GDP growth forecast upwards by 20 basis points to 6.2 per cent. However, it feels that macro risks and next year’s general poll will be key factors to watch.
• UBS’s forecast is the same as that of Fitch Ratings, World Bank, Organization for Economic Cooperation and Development (OECD), and ADB, and it is higher than S&P Global Ratings’ estimate of 6 per cent.
• However, it is lower than the estimates of the government and the Reserve Bank of India, which have pegged the country’s growth at 6.5 per cent.

About UBS

UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world.