India, July 9 -- India's economy is expected to grow at 6.4 per cent in fiscal year 2027, a tad slower than the 6.5 per cent projected in April, the International Monetary Fund (IMF) said on Wednesday. The IMF, in its update to the World Economic Outlook (WEO), projected India to grow at 6.7 per cent in fiscal year 2028, an increase of 20 basis points from the 6.5 per cent growth projected in April.

"India remains among the fastest-growing major economies, with growth projected at 6.4 per cent supported by strong momentum in private consumption and services activity," the IMF said.

"Factors that are underpinning the forecast revisions are basically twofold. On the upside, we have the better-than-expected out turn in the most recent data...