India's strong Q1 growth prompts global forecasters to lift outlooks

At the Kautilya Economic Conclave, MoSPI Secretary Saurabh Garg emphasized that India's economy maintained resilience after posting a 7.8% growth rate in the first quarter of FY27. The surge was driven by solid activity across manufacturing, services and continued investment, surpassing many forecasters' estimates. In response, several international rating agencies, including S&P Global Ratings and Fitch Ratings, have revised their India growth forecasts upward.

Garg attributed this optimism to sustained domestic momentum and to policy measures that have mitigated the impact of global oil price fluctuations, especially those arising from West Asian geopolitical risks. He said both government interventions and adaptive behavior by households and businesses contributed to this cushioning effect. The remarks underscore a growing confidence among global analysts in India's economic trajectory.