Business EconomyPosted at: Aug 2 2025 7:34PM


Fitch revises GDP forecast, believes limited tariff impact on India

New Delhi, Aug 2 (UNI) Fitch Ratings Inc. revised India’s GDP forecast to 6.3 per cent for the current fiscal year and termed “higher US tariffs will have a limited direct impact” in its India Corporate Credit Trends report. Initially, the agency predicted a forecast of 6.4 per cent in its Global Economic Outlook Report in April.
Fitch Ratings Inc. is an American credit rating agency that oversees the creditworthiness of debt issuers.
Fitch noted, “We expect India’s GDP growth of 6.3 per cent and robust infrastructure spending to underpin healthy demand for cement and building materials, electricity, petroleum products, steel, engineering and construction (E&C) companies in FY26.”
The report also highlighted that funding needs in FY26 are supported by the adequate cash buffers at many of the corporations. Also noted the country’s healthy banking conditions, the likelihood of possible interest rate cuts in 2025 amid robust economic growth.
The Fitch report also noted that higher US tariffs will have a direct, limited impact due to the generally low to moderate US export exposure of Indian corporates.
“We forecast median EBIDTA net leverage to fall 3.1 times in FY26 as EBIDTA growth offsets high capex-driven negative cash flow in many sectors,” the report added.
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