Title: S&P Global-Crisil Report Sees India Growing 7% in FY27 After Stronger-Than-Expected 7.8% in FY26
India's economy is projected to grow 7 per cent in fiscal 2026-27 after delivering a stronger-than-expected 7.8 per cent expansion in FY26, according to a new S&P Global-Crisil report released on Wednesday, which credits the strength of domestic drivers for the country's resilience amid global uncertainty and high US tariffs.
The report, titled "India Forward: Reimagining Growth", says India's resilience highlights the strength of domestic economic drivers, though growth is expected to moderate as the country enters its next phase of development. It says India remains well-positioned to sustain its trajectory if it can translate macroeconomic resilience into long-term growth momentum.
"India has a significant opportunity to build on its economic resilience through continued infrastructure development, greater competitive federalism, deeper capital markets and stronger financial intermediation," said Yann Le Pallec, President of S&P Global Ratings and Chairman of the Board for Crisil. The report adds that the next phase of growth will depend on sustaining investment momentum and strengthening key economic institutions.
Energy security a key concern
The study flagged energy security as a key concern after disruptions to supplies passing through the Strait of Hormuz. S&P Global Energy President Dave Ernsberger said India had faced a 20 per cent reduction in crude oil supplies, a 12 per cent decline in LPG availability and a 16 per cent drop in LNG flows because of the continuing disruption. More than half of India's crude oil imports pass through the Strait, making it one of the countries most exposed to disruption in the strategic waterway. The report called for greater diversification of supply sources and strategic reserves for crude oil, refined products and natural gas.
Digital rupee and geopolitics
The report also pointed to the growing potential of the digital rupee, saying the central bank digital currency could become the fourth layer of India's digital public infrastructure, enabling programmable money and keeping cross-border trade and remittances anchored in sovereign currency. On geopolitics, the study suggested India is increasingly positioning itself as a leading power rather than a balancing power, pursuing selective cooperation with major powers while deepening engagement with emerging economies.
Sources: India's economy to grow 7 pc in FY27: S&P Global | India's economy likely to grow 7 pc in FY27: S&P Global | India GDP to grow 7% in FY27 after 7.8% surge in FY26: S&P Global-Crisil
India's economy is projected to grow 7 per cent in fiscal 2026-27 after delivering a stronger-than-expected 7.8 per cent expansion in FY26, according to a new S&P Global-Crisil report released on Wednesday, which credits the strength of domestic drivers for the country's resilience amid global uncertainty and high US tariffs.
The report, titled "India Forward: Reimagining Growth", says India's resilience highlights the strength of domestic economic drivers, though growth is expected to moderate as the country enters its next phase of development. It says India remains well-positioned to sustain its trajectory if it can translate macroeconomic resilience into long-term growth momentum.
"India has a significant opportunity to build on its economic resilience through continued infrastructure development, greater competitive federalism, deeper capital markets and stronger financial intermediation," said Yann Le Pallec, President of S&P Global Ratings and Chairman of the Board for Crisil. The report adds that the next phase of growth will depend on sustaining investment momentum and strengthening key economic institutions.
Energy security a key concern
The study flagged energy security as a key concern after disruptions to supplies passing through the Strait of Hormuz. S&P Global Energy President Dave Ernsberger said India had faced a 20 per cent reduction in crude oil supplies, a 12 per cent decline in LPG availability and a 16 per cent drop in LNG flows because of the continuing disruption. More than half of India's crude oil imports pass through the Strait, making it one of the countries most exposed to disruption in the strategic waterway. The report called for greater diversification of supply sources and strategic reserves for crude oil, refined products and natural gas.
Digital rupee and geopolitics
The report also pointed to the growing potential of the digital rupee, saying the central bank digital currency could become the fourth layer of India's digital public infrastructure, enabling programmable money and keeping cross-border trade and remittances anchored in sovereign currency. On geopolitics, the study suggested India is increasingly positioning itself as a leading power rather than a balancing power, pursuing selective cooperation with major powers while deepening engagement with emerging economies.
Sources: India's economy to grow 7 pc in FY27: S&P Global | India's economy likely to grow 7 pc in FY27: S&P Global | India GDP to grow 7% in FY27 after 7.8% surge in FY26: S&P Global-Crisil
