India forecast annual growth of 6.4% in the year ending in March, the slowest in four years and below the lower end of government's initial projection, dragged by a weaker manufacturing sector and slower corporate investments.

The slower expansion of Asia’s third largest economy comes in the wake of higher interest rates amid elevated inflation, especially of food commodities.

India's GDP is projected to expand by 6.4% in the financial year 2024-25, a decline from the 8.2% growth recorded in FY24, according to government data released on Tuesday. The second quarter witnessed slower-than-anticipated growth at 5.