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Fitch Ratings has revised its forecast for India's economic growth in FY24, raising it to 6.3% from the earlier prediction of 6%. This upward revision is attributed to a stronger performance in the first quarter and positive momentum in the near term. In comparison, the GDP expanded by 7.2% in FY23 and 9.1% in the previous fiscal year (FY22). Fitch highlights the broad-based strength of India's economy, with a 6.1% year-on-year growth in GDP during Q1 2023, robust auto sales, PMI surveys, and credit growth. Additionally, the recovery in manufacturing, construction, and farm output has contributed to the positive outlook. While the economy continues to benefit from high bank credit growth and infrastructure spending, slowing global trade may pose challenges. Fitch expects the Reserve Bank of India (RBI) to pause its rate cycle before cutting rates early next year due to the moderation in inflation and the need to support growth.