India is expected to grow at around 6.5% in the fiscal year 2024/25, closer to the lower-end of its 6.5%-7% projection, as global uncertainties pose a threat to domestic growth, the government said on Thursday.

Looking into FY26, newer uncertainties have emerged. Global trade growth is looking more uncertain than before. Elevated stock markets continue to pose a big risk, the government warned.

The Indian passenger vehicle (PV) market has recorded its slowest growth since the pandemic, with a mere 1% YTD growth in FY25, as per data from the Society of Indian Automobile Manufacturers (SIAM). However, despite the overall slowdown, Mahindra & Mahindra and Toyota Kirloskar Motor have been able to considerably increase their market shares.

India is expected to grow at around 6.5% in the fiscal year 2024/25, closer to the lower-end of its 6.5%-7% projection, as global uncertainties pose a threat to domestic growth, the government said on Thursday.

India expects the economy to grow at around 6.5% in the year through March, against 8.2% a year before, after the economy slowed unexpectedly in the July-September quarter.

The Indian economy is projected to grow at 6.5 per cent in the current and next fiscal year, an EY report revealed. The study attributed this growth rate to a lower than expected surge in the September quarter,

India's economy is likely to grow by 6.5 percent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation.