Rating agency S&P Global Ratings on Wednesday raised India's GDP growth forecast for the current fiscal to 7 per cent from 6.6 per cent earlier, driven by strong economic activity, robust demand, and increased government spending.

"Several factors drove growth to higher levels than we expected in the June quarter. We have consequently upgraded our GDP growth forecast for the current fiscal year, ending March 31, 2027, to 7.0 per cent, from 6.6 per cent previously," S&P Global Ratings said in a statement.