India's economy is poised for a fourth consecutive year of growth exceeding 7%, with private sector economists revising their forecasts to 3% for the 2026-27 financial year, according to estimates from various experts.

The Indian economy's strong growth momentum has been reflected in the latest projections, which now point to a full-year expansion of 3% compared to the RBI's earlier estimate of 6.7%. However, the Reserve Bank of India had later indicated that it expected growth to be close to 7%.

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State Bank of India (SBI) has raised its full-year projections While SBI expects the momentum to sustain, it anticipates a moderation in growth to 7.2% in the current and next quarters, before slowing to 6.9% in the March quarter.

"The gradual moderation reflects normalisation from Q1's strong base rather than a loss of underlying momentum," SBI said in a statement. "Domestic demand remains the key growth anchor."

Other private sector economists have also revised their forecasts upwards, with HDFC Bank now expecting growth of 7.1% compared to its earlier estimate of 6.8%. Credit ratings agency Crisil has revised its forecast to 7%, while CareEdge has upgraded its prediction to 7.3%.

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Chief economic adviser V Anantha Nagewaran cautioned that the global environment remains uncertain, with concerns over interest rates, energy commodity supplies and food prices potentially impacting the economy.

"There is concern with respect to the level of interest rates and potential disruptions on energy commodity supplies and also what will happen to food prices etc. There are multiple issues that are still in the air, as far as global affairs are concerned and at some point they may have an impact on the economic activity in the country," Nagewaran said at a news conference.