Barclays has raised India’s growth forecast for next fiscal to 6.3% from 6%, saying that global developments such as rising financial stability risks, peaking of rate tightening around the world and collapse of commodity prices augur well for the world’s fifth-largest economy. “Having weathered many shocks to its macro stability in 2022, India is on firmer ground in 2023; current-account funding needs are falling, inflation is trending lower, and fiscal demands are in check,” Barclays said in a report.