The Reserve Bank of India (RBI) on Wednesday raised its GDP growth forecast for FY27 by 40 basis points to 7.1%, while cautioning that persistent global geopolitical tensions could pose risks to the economic outlook.
Announcing the October bi-monthly monetary policy, RBI Governor Sanjay Malhotra said domestic economic activity has remained resilient despite global headwinds, with real GDP growth at 7.8% in Q1 FY27.
The growth momentum was supported by strong private consumption and investment activity, while net exports also made a positive contribution to overall growth.