India’s GDP Projected to Grow by Up to 7.8% in FY26, 6.6-6.9% in FY27: Deloitte Report

India’s economy is expected to maintain strong momentum in the current fiscal, driven by resilient domestic demand and services-led growth, even as global trade and geopolitical uncertainties persist, Deloitte India said. 

Growth Outlook for FY26 

Deloitte India projects GDP growth of 7.5-7.8% in FY26, supported by festive demand, robust services activity and favourable inflation trends.  

Real GDP grew 8% in the first half of the fiscal despite external headwinds such as volatile capital flows, trade disruptions and policy uncertainty in advanced economies. 

The firm said sustained pro-growth fiscal, monetary and labour reforms, along with tax exemptions, policy rate cuts and GST rationalisation, have helped stabilise demand conditions across the economy. 

Policy Reforms and External Trade Reset 

According to Deloitte India, early signals of global risks prompted timely policy action, including demand-side support and trade recalibration through multiple free trade agreements.  

These measures have strengthened export diversification, improved investor confidence and supported foreign capital inflows. 

“India’s resilience is no accident. It stems from sustained pro-growth policies,” said Rumki Majumdar, Economist, Deloitte India. 

FY27 Outlook & Medium-Term Risks 

Growth is expected to moderate to 6.6-6.9% in FY27, reflecting a high base and persistent global uncertainties. 

Deloitte India noted that policy focus is likely to shift towards supply-side reforms, with emphasis on MSMEs and the development of tier-2 and tier-3 cities as new growth engines. 

Read More: World Bank Lifts India’s FY26 Growth Forecast to 7.2%; FY27 Seen at 6.5%! 

Conclusion 

Deloitte India believes India’s growth story remains structurally strong, with domestic demand cushioning external shocks, even as FY27 growth moderates on a higher base. 

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