S&P Global Ratings has retained its growth forecast for India at 6.8% for the FY25.

The rating agency cited high interest rates and lower fiscal boost as factors that will temper demand in the non-agricultural sectors, moderating growth from the previous fiscal year's strong performance.

S&P revised its GDP growth forecast for India in FY24 to 8.2%, acknowledging the country's economic growth, which continues to surprise on the upside.

The agency projects India's economy to grow at 6.9% and 7% in FY26 and FY27, respectively.