Deloitte Forecasts 6.5-6.8% GDP Growth This Fiscal

New Delhi: Indian economy is likely to grow at 6.5-6.8 per cent this fiscal and slightly higher between 6.7-7.3 per cent in FY26, boosted by domestic consumption, Deloitte said on Sunday. Deloitte India Economist Rumki Majumdar said the growth in the first half of the fiscal year 2025 turned out to be slower than estimated as election uncertainties followed by disruptions in activity due to heavy rainfall and geopolitical events weighed on domestic demand and exports.

However, India continues to show resilience in certain pockets that are worth noting -- be it in consumption trends, services growth, the rising share of high-value manufacturing in exports, or the capital market. The government’s continued focus on infrastructure development, digitisation, and attracting FDI will be the additional growth booster, enhancing overall efficiency.

“We remain cautiously optimistic and expect the growth rate to remain between 6.5 and 6.8 per cent this fiscal year and slightly higher between 6.7 and 7.3 per cent in FY2026,” Majumdar told PTI.

Earlier this month, the Reserve Bank of India cut its growth forecast for the current fiscal to 6.6 per cent from 7.2 per cent projected in June. Deloitte said manufacturing exports in high-value segments like electronics, semiconductors, and chemicals reflect India’s strengthening position in global value chains.