S&P, Fitch and ADB all raise India growth forecasts as El Niño threat looms

Three prominent financial institutions — S&P Global Ratings, Fitch Ratings and the Asian Development Bank — have each raised their growth forecasts for the Indian economy, reflecting renewed confidence in the country's economic trajectory.

The upgrades signal broad optimism about India's near-term prospects, driven by resilient domestic demand and improving macroeconomic fundamentals. The revisions place India among the fastest-growing major economies globally.

However, the strengthening El Niño weather phenomenon has introduced a note of caution. The climatic pattern, which typically suppresses monsoon rainfall across South Asia, could weigh on agricultural output and rural incomes, potentially tempering the momentum that underpins the upgraded forecasts.