Indian GDP growth expected to slow to 7% in FY27 amid global uncertainties

Mumbai, 30 Sept – A collaborative report by S&P Global and CRISIL outlines that India’s GDP, which expanded by 7.8% in FY26, is likely to record a growth rate close to 7% in FY27. The outlook reflects the country’s inherent economic vigor despite external headwinds such as rising U.S. tariffs and worldwide market volatility.

The document, “India Forward: Reimagining Growth”, notes that as the nation steps into a higher phase of development, a slight easing of the growth tempo is normal. Yet, if the country can translate its long‑term macro‑stability into sustained investment and productivity gains, the 7% benchmark remains within reach.

Yan Le Pelley, president of S&P Global Ratings and chair of CRISIL’s board, highlighted that India possesses an extensive runway for infrastructure development, a more competitive federal structure, deep capital markets and strong financial intermediation – all of which can amplify growth prospects.

Geopolitically, the report argues that India is positioning itself as a leading global player rather than merely a balancing force. It also flags the strategic vulnerability associated with the Hormuz Strait, which carries over half of India’s crude oil imports, making energy security a priority.

On the technology front, the study foregrounds the rising relevance of a Central Bank Digital Currency. A digital rupee could enable programmable money, bolster cross‑border trade, and preserve the use of sovereign currency amid a rapidly tokenising global economy.