Morgan Stanley, the multinational investment bank and financial services giant, has revised its GDP growth forecast for India to 6.3 per cent for the fiscal year 2024-25 (FY25), down from its earlier estimate of 6.7 per cent, according to ANI reports.

The downward revision follows India’s economic slowdown during the July-September quarter of 2024. The GDP growth for this period decelerated to 5.4 per cent year-on-year (YoY), marking its slowest pace since March 2023. This was a sharp drop from the 6.7 per cent recorded in the preceding quarter and fell below Morgan Stanley's prediction of 6.3 per cent, as well as the consensus estimate of 6.5 per cent.