Global ratings agency Moody's Investors Service has revised its GDP growth estimate for India in 2024 to 6.8%, up from the earlier forecast of 6.1% in November 2023.

• This positive outlook comes on the back of robust capital spending by the government and a surge in manufacturing activity.
• Moody's reported that India's real GDP expanded by 8.4% year-over-year in the fourth quarter of 2023, resulting in a full-year growth of 7.7% for 2023.
• Moody's believes that the Indian economy is poised to comfortably register a 6-7% real GDP growth.
• The agency forecasts continued growth with a projection of 6.8% for the calendar year 2024 and 6.4% for 2025.