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India is likely to clock a GDP growth of 7.5-7.8 per cent in the current fiscal, supported by festive demand and robust services activity, and moderate to 6.6-6.9 per cent in FY27 on a high base and persistent global uncertainties, Deloitte India said on Wednesday. For India, 2025 will be remembered as the year of "resilience" in domestic demand, decisive reforms in fiscal, monetary and labour policies, and recalibrations in trade policies. Real GDP grew 8 per cent in the first half (April-September) of the ongoing 2025-26 fiscal despite global headwinds such as trade disruptions, policy shifts in advanced economies, and volatile capital flows. Deloitte India expects full year GDP growth at 7.5-7.8 per cent for FY2025-26, supported by festive demand and robust services activity. Furthermore, growth may moderate to 6.6-6.9 per cent in FY2026-27, reflecting a high base and persistent global uncertainties, it said in a statement. "India's resilience is no accident. It stems from ...
Rationalising the import duty structure and increasing allocations in the forthcoming Budget would help boost domestic manufacturing and the country's exports, Deloitte India suggested on Tuesday. It also said reforms to the Special Economic Zone (SEZ) regime such as allowing domestic supply on a duty-forgone basis, easing sub-contracting norms and exempting value addition from customs duty along with a limited customs amnesty scheme would improve competitiveness and reducing litigation. The Budget for 2026-27 is expected to be presented on February 1. The consulting firm said that to give a sustained boost to India's exports, the Union Budget should build on the government's ongoing efforts to strengthen domestic manufacturing and enhance export competitiveness. "A key measure would be to further rationalize the customs duty structure - lowering duties on parts and components in sectors where India has achieved optimal manufacturing capacity, while increasing duties on finished .
Deloitte will this week launch an AI-powered platform 'Tax Pragya' to make tax research and insights accessible to its clients faster, a company official said on Sunday. Deloitte India Partner Sumit Singhania said Tax Pragya, which is set to be launched on December 9, has been built with direct and indirect tax-related data on over a million court cases and Deloitte's knowledge solution papers so that access to the insights is quicker and accurate. Tax analysts currently have to spend hours doing research on various court judgments before giving their feedback to clients. Tax Pragya will convert that time to just a few minutes and provide solutions from Deloitte's privately curated database, and not open source data. "Tax Pragya is an AI-powered tax, research and insight platform. It is enriched with two decades of Deloitte tax knowledge, perspective and jurisprudence. The goal is to move from a knowledge-intensive platform to an insightful platform. It's an agentic solution where w
Deloitte India on Thursday projected India's economy to grow 6.7-6.9 per cent in the current fiscal amid buoyant demand and policy reforms. Indian economy grew 7.8 per cent in the April-June quarter of current fiscal. Deloitte India's 'India Economic Outlook' report forecasts a GDP growth between 6.7 and 6.9 per cent, averaging 6.8 per cent this fiscal year, up by 0.3 percentage points from Deloitte's previous forecast. This performance signals not just resilience but a renewed sense of India emerging stronger than most nations. Similar growth rates are expected in the subsequent year, but the range of variation remains broader due to uncertainties associated with trade and investment. The GDP growth forecast is in lines with the RBI which projected FY26 economic growth at 6.8 per cent. Growth is likely to be supported by buoyant domestic demand, accommodative monetary policy, and structural reforms, such as GST 2.0. Low inflation will contribute to spending as purchasing power ..
Deloitte India on Tuesday projected India's economic growth at 6.4-6.7 per cent in the current fiscal citing robust domestic fundamentals and expanding global opportunities. It, however, said that India must monitor its trade exposure and be prepared for the outcomes of geopolitical uncertainties Strategic trade negotiations, notably with the UK in May and the ongoing talks with the US, and the highly anticipated deal with the European Union by the end of the year, will likely act as powerful multipliers of income, jobs, market access, and domestic demand. India's economic growth was at 6.5 per cent in 2024-25. Deloitte projects 6.4-6.7 per cent growth for FY 202526, driven by resilient domestic demand, easing inflation, and a bold push in domestic policy and global trade diplomacy, it said in a statement. "India's economic trajectory stands out in a turbulent global landscape. Our momentum is driven by a virtuous trifecta, resilient capital markets, a dynamic consumer base and a
Artificial Intelligence, the disruptive tech force reshaping industries and daily life, will create far more opportunities than it eliminates, Deloitte South Asia CEO Romal Shetty said emphasising that critical thinking and ethical oversight must stay central as society adapts to this new era. Weighing in on the ongoing debate over whether or not AI may cause a lowering of human cognitive abilities overtime, Shetty told PTI in an interview that developing independent and critical thinking is crucial when it comes to young minds. That said, at more advanced stages, AI can serve as an extremely helpful and a must-have tool, aiding, not replacing, human ingenuity. His comments assume significance against the backdrop of a new study from researchers at MIT's Media Lab on impact of GenAI on critical thinking abilities. It revealed that although AI tools can improve efficiency, in the study those who relied excessively on GenAI, overtime remembered less. To a question on impact of AI on .