Deloitte predicts moderation in FY27, India GDP growth expects at 7.5–7.8% in FY26
By Anjali Sharma
WASHINGTON – Deloitte India said on Wednesday that the growth is expected to moderate to 6.6–6.9% in FY2026-27, reflected a high base and continued global uncertainties.
India is likely to record a GDP growth of 7.5–7.8% in the current financial year (FY2025-26), supported by strong festive demand and robust performance in the services sector, Deloitte India said.
Deloitte in its outlook said 2025 will be remembered as a year of resilience for India’s domestic demand, marked by decisive reforms in fiscal, monetary and labor policies, along with a recalibration of trade strategies amid a challenging global environment.
India’s real GDP grew 8% during the first half of FY26 (April–September) despite global headwinds such as trade disruptions, policy shifts in advanced economies and volatile capital flows.
Deloitte noted that early signs of external risks in 2025, including unpredictable trade policies, geopolitical tensions and slowing growth among major trading partners, prompted timely policy intervention.
It noted that measures such as tax exemptions, policy rate cuts and GST rationalization were introduced to stimulate demand, while favorable inflation trends provided additional support to economic activity.
India undertook significant recalibration efforts on the trade front.
India signed key free trade agreements with the UK, New Zealand and Oman, initiated negotiations with Israel, and operationalised the EFTA trade deal in 2025, aimed at export diversification, it stated.
Deloitte said India also strengthened trade and investment engagement with emerging economies across Asia, Africa and the Middle East, aligning with the broader Global South shift.
