OECD, S&P keep India's economic growth forecasts unchanged for FY23

S&P noted that India's domestic recovery from Covid-19 would continue to support growth in FY23

Economic growth, GDP

Shiva Rajora New Delhi
Amid slowing external demand for Indian goods and services, the Organisation for Economic Cooperation and Development (OECD) and S&P on Monday kept their growth forecasts for India unchanged at 6.9 per cent and 7.3 per cent, respectively, for FY23 while highlighting growing downside risks.

S&P in its latest outlook for Asia-Pacific said it saw a strong rebound in India as services consumption continued to recover and investment grew robustly.

“Softer external demand is a factor in India’s projected slowdown from 8.7 per cent annual growth in FY22 to around 7 per cent in FY23 and around 5.75 per cent in

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First Published: Sep 26 2022 | 7:39 PM IST

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