India’s economy has received a strong vote of confidence from global rating agency Fitch, which has revised the country’s medium-term growth potential to 6.4% through 2028—up from its earlier estimate of 6%. This upward revision reflects India’s resilient macroeconomic fundamentals, ongoing structural reforms, and rising investment momentum.
According to Fitch, the revision is backed by increased public capex, a surge in private-sector investment, and the benefits of supply-side reforms that have begun to bear fruit. The agency acknowledged the government’s thrust on infrastructure, digital transformation, and manufacturing, which are expected to drive productivity and long-term expansion.
Fitch noted that India has continued to outperform many emerging markets despite global headwinds. Factors such as strong domestic consumption, moderating inflation, and a favorable demographic profile are helping the economy maintain its upward trajectory.
The rating agency also cited policy measures like the Production Linked Incentive (PLI) schemes, improvements in the ease of doing business, and greater financial inclusion as catalysts for sustained medium-term growth. These, coupled with a healthy banking sector and rising credit flows, are expected to support capital formation over the coming years.
While external risks such as global economic slowdown and geopolitical tensions persist, Fitch stated that India remains relatively insulated due to its large internal market and robust policy framework.
The revised forecast underscores growing global confidence in India’s growth narrative and reaffirms its position as a key driver of global economic expansion through the rest of the decade.