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India growth seen slowing to 6.6% in FY27, says Fitch Group company BMI

Fitch Group company BMI on Tuesday projected India's growth to slow to 6.6 per cent in the current fiscal as the boost to the economy from last year's GST reforms wanes and elevated inflation erodes household income. The Indian economy grew 7.7 per cent in financial year 2025-26. India remains Asia-Pacific's fastest-growing large economy, but the risks lie to the downside, mainly from a re-escalation in the Middle East or a weaker monsoon, BMI said. It said India's growth will slow in FY27 as the fiscal boost from GST reforms fades and inflation remains elevated, averaging 5.4 per cent. We expect growth to moderate from 7.7 per cent in FY2025/26 (April-March) to 6.6 per cent in FY2026/27, as the lift from last year's Goods and Services Tax reforms wears off while elevated inflation erodes household incomes, BMI said. As part of the GST reforms rolled out in September last year, tax rates on 375 items were cut and GST was rationalised from a 4-tier structure to virtually 2 slabs

11 Aug 2026 2:13 pm