We forecast India's real GDP will grow by 6.7% in 2025, the same pace as 2024. In fiscal year terms, we expect 6.6% growth in FY2025/2026 (starting in April). After a weak third quarter, India's economic growth rebounded in Q4 2024. Real GDP rose 6.2% y/y, up from an upwardly revised 5.6% in Q3. But the pace of growth was still the second weakest in two years.
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