Mumbai

India’s economy is projected to grow 7 per cent in fiscal 2026-27 after expanding a stronger-than-expected 7.8 per cent in FY26, according to an S&P Global-Crisil report released on Wednesday.

The report, titled “India Forward: Reimagining Growth”, said India’s resilience amid global uncertainty and high US tariffs reflected the strength of domestic economic drivers, though growth is expected to moderate as the country enters its next phase of development. Yann Le Pallec, President of S&P Global Ratings and Chairman of the Board for Crisil, said India has an opportunity to build on its economic resilience through continued infrastructure development, greater competitive federalism, deeper capital markets and stronger financial intermediation. The report said the next phase of growth would depend on sustaining investment momentum and strengthening key economic institutions.

On energy security, the report flagged risks arising from disruptions to supplies through the Strait of Hormuz. S&P Global Energy President Dave Ernsberger said India had faced a 20 per cent reduction in crude oil supplies, a 12 per cent decline in LPG availability and a 16 per cent drop in LNG flows due to the continuing disruption.