Ind-Ra: India's Economy to Grow 6.9% in FY27, Private Investment Lags

• India Ratings and Research forecasts India's real GDP to grow 6.9% in FY27, easing from an estimated 7.4% in FY26.
• Private investment remains a weak link in the growth story; a broader revival is expected to take at least a year.
• Macro fundamentals and policy reforms (tax cuts, GST, FTAs with Oman, UK, New Zealand) are expected to cushion against global risks.
• Services (8.1%) and industry (6.2%) will drive GVA growth, while agriculture is forecast to moderate to 3.1%.
• CPI inflation is projected at 3.8% in FY27, within RBI's target; fiscal deficit is expected to narrow to 4.1% of GDP.

Why It Matters: India's economy set for strong FY27 growth, but private investment needs time to broaden.