India's GDP will grow by 6.5% to 6.8% in fiscal year 24-25.

Posted under: MSME's
Date: 2023-10-18
 India's GDP will grow by 6.5% to 6.8% in fiscal year 24-25.

Deloitte India's latest forecast projects India's economic growth between 6.5 per cent to 6.8 per cent in FY24-25, buoyed by robust festive spending and increased government expenditure. With the potential for a stronger global economic rebound, the country's GDP growth outlook could improve further. Despite geopolitical uncertainties and global economic deceleration, India is expected to rely on domestic demand, particularly through private consumption and investment spending. The report emphasizes the vital role of micro, small, and medium enterprises (MSMEs) in driving grassroots growth. To ensure sustained economic activity, the government must focus on policies and institutional mechanisms tailored to the MSME sector, addressing export hurdles, digital innovation, and brand protection. Furthermore, promoting accessibility and affordability of digital infrastructure for MSMEs is pivotal for fostering innovation and technology adoption, facilitating business scaling.