New Delhi, Sept. 18 -- Credit ratings agency Moody's on Friday raised India's real GDP growth forecast to 7% from 6% for the current fiscal year, citing the country's resilience amid the Middle East conflict.

According to Fortune, "The ratings agency, however, retained India's Baa3 long-term issuer rating and stable outlook, noting that the country's high general government debt, weak debt affordability, and low per capita income continue to constrain its credit profile."

"Although we continue to expect India to grow faster than all other G-20 economies, as well as similarly rated emerging market sovereigns, risks remain," Moody's report stated, as per Reuters.

The agency said elevated energy prices and El Niño-related food price ...