India's FY26 GDP growth to drop to 6.2%: Nomura

There is a ‘divergence’ between the growth in GST collections and across other high-frequency growth indicators, it noted in a research note.

Recent official data show the country’s real gross domestic product (GDP) growth came down to 6.5 per cent in FY25 from 9.2 per cent in FY24. The central bank sees growth sustaining at 6.5 per cent, the official data showed.

Nomura expects the investment cycle to get delayed because of the global uncertainties.

Consumption stocks have underperformed during the market correction since the peak in September 2024, it said, adding that the current macro environment marked by low inflation, interest rate cuts and income tax cuts presents tailwinds to consumption.

ALCHEMPro News Desk (DS)