Barclays raised India’s GDP growth forecast prediction for 2024-25 upward by 50 basis points to 7 percent. Earlier, the company’s growth forecast for 2023-24 was 7.8 percent.
“Considering today’s print and strong momentum put up by growth numbers across Q1-Q3 of 2023-24, we raise our 2023-24 GDP growth forecast to 7.8 per cent with upside risks given Q1-Q3 2023-24 growth is currently averaging 8.2 per cent ,” said Rahul Bajoria, managing director and head of EM Asia (ex-China) Economics at Barclays.
According to last year’s report, India’s gross domestic product (GDP) grew 8.4 percent during the October-December 2023 quarter (Q3 FY24) against the 4.3 percent growth recorded a year ago. However, the Q3 FY24 GDP growth is higher than what was expected by analysts.
