Barclays raises forecast for India FY24 GDP to 6.3%

Barclays Plc raised its India growth forecast on Thursday, citing resilient domestic demand, moderating price-pressures and a decline in current account funding needs.

Asia’s third-largest economy is estimated to expand at a 6.3 percent clip in the fiscal year starting April, Barclays economist Rahul Bajoria wrote in a report. That’s faster than the six percent pace forecast by the bank previously.

Global events, including rising financial stability risks, and the topping out of the synchronized monetary policy cycle will provide a more conducive backdrop for India, Bajoria said.