"India's economy has been showing broad-based strength - with GDP up by 6.1 per cent year-on-year in 1Q23 (January-March) and auto sales, PMI surveys and credit growth remaining robust in recent months - and we have raised our forecast for the fiscal year ending in March 2024 (FY23-24) by 0.3 percentage points to 6.3 per cent," the rating agency said.