Indian economy likely to grow 9% next fiscal: Credit Suisse

Swiss brokerage Credit Suisse expects the economy to continue to show positive surprises and record up to 9 percent growth in the next fiscal.

For the current financial year too, the brokerage anticipates growth to be higher than the consensus forecast of 8.4-9.5 percent, and printing in at around 10.5 percent.

As a policy, Credit Suisse does not provide absolute growth numbers in its forecast.

However, an extrapolation of data available and projections indicate that economic growth could clip 9 percent in 2022-23 period, which according to the brokerage is up to 400 basis points (bps) over the consensus numbers.

Neelkanth Mishra, the co-head of equity strategy for Asia Pacific and India equity strategist at Credit Suisse, told PTI that he expects meaningful upgrades to the GDP forecast as the economic recovery has surprised positively.

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