Fitch retains India's FY2024 growth forecast at 6.3%, raises year-end inflation projection

Fitch Ratings has maintained India's growth forecast for the current fiscal year at 6.3% while highlighting the country's economic resilience despite tighter monetary policies and export challenges. However, the rating agency has raised its year-end inflation projection due to the looming threat of El Nino. India's economy experienced robust growth of 7.8% in the April-June quarter of the current fiscal year, driven by strong activity in the services sector and robust demand.

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