CRISIL Forecasts India's 2027 GDP Growth

S&P Global===CRISIL Intelligence forecasts India's real GDP growth to moderate to 7.1% in fiscal 2027 from 7.6% in the previous year, while remaining healthy despite global uncertainties. The growth is primarily driven by robust domestic demand, supported by consumption and a broadening private capital expenditure cycle. Key assumptions include a normal monsoon, benign food inflation, Brent Crude prices between USD 75-80 per barrel, and steady global growth. Public infrastructure spending remains a significant driver, and private investment is picking up in emerging sectors like electronics, semiconductors, and electric vehicles. Industrial capital expenditure is projected to increase significantly, with emerging sectors seeing sharp growth. Exports are expected to remain steady, with a target to double by fiscal 2031. Risks include geopolitical conflicts, technology disruptions, public debt, climate vagaries, and potential spikes in crude oil and gas prices affecting corporate margins.