S&P Global Ratings cuts India's FY26 growth rate by 20 basis points to 6.3%

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S&P Global Ratings cuts India's FY26 growth rate by 20 basis points to 6.3% - Business Standard

Quick Summary:

S&P cites US tariff shocks and rising global uncertainty as reasons for trimming India's FY26 growth projection to 6.3 per cent and FY27 estimate to 6.

We revise China’s domestic demand growth down only moderately, as we anticipate policy support will offset a sizable portion of the spillover impact from the export plunge on investment and consumption,” the agency said.

Regarding China, the agency stated that assuming the tariffs remain in place, China’s GDP will slow to 3.5 per cent in 2025 and 3 per cent in 2026, down from the earlier projections of 4.1 per cent and 3.8 per cent respectively.“In response to US tariffs of more than 100 per cent, we expect a sharp decline in China’s exports to the US.