New Delhi, Nov. 12 -- Moody's Ratings on November 12 raised India's GDP growth forecast from 6.5% to 7% for the current fiscal year.

The ratings agency said India's economic growth is expected to remain near 7% over the medium term, with sustained private investment potentially pushing growth even higher.

In its Global Macro Outlook 2027-28, Moody's, however, said that near-term risks to growth persist as household consumption remains vulnerable, with headline inflation close to the upper end of the Reserve Bank of India's 2-6% target range.

Broader economic activity also remains solid amid expanding manufacturing and services purchasing manager indexes.

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