S&P Global revises India’s FY24 growth forecast upwards to 6.6%; turns pessimistic on inflation

S&P Global Market Intelligence has revised India’s growth forecast for FY24 to 6.6% due to strong growth in the April-June quarter, up from the 5.9% projected in August. However, the analytics firm predicts a sharp rise in inflation to 6% in 2023, compared to 5.1% in August. S&P is more optimistic than the Reserve Bank of India on growth but more pessimistic on inflation. The firm also expects slower global growth to impact India’s exports.