Fitch Ratings recently revised India's GDP growth forecast for FY21 downwards from -5% to -9.4%. The following are the implications of such a change:

• COVID-19 pandemic and the resulting lockdowns have significantly impacted the country's economy, leading to a contraction of its GDP.
• The revision in the forecast highlights the severity of the economic downturn due to the ongoing pandemic and its impact on India's economy.
• The revision also highlights the need for the government to take measures to revive the economy and stimulate growth.
• Industries such as construction, manufacturing, and services are expected to suffer the most due to the economic slowdown.
• The revision in the forecast also has implications for investors, who may reconsider their investment in India due to the challenging economic environment.

In summary, the revision in India's GDP growth forecast by Fitch highlights the need for the government to take measures to revive the economy and stimulate growth.