India to remain fastest-growing major economy
6 months, 1 week ago

India to remain fastest-growing major economy

Deccan Chronicle  

Chennai: India will remain the fastest-growing of the world’s largest economies, although its pace of expansion is expected to moderate, finds the World Bank. While retaining the GDP growth forecast for FY24 and FY25 at 6.6 per cent and 6.7 per cent respectively, the World Bank estimated the country to clock 6.8 per cent growth in FY26. However, investment growth is still expected to be stronger than previously envisaged and remain robust over the forecast period, with strong public investment accompanied by private investment. Growth in industrial activity, including manufacturing and construction, was stronger than expected, alongside resilient services activity, which helped offset a slowdown in agricultural production partly caused by monsoons. According to the World Bank, inflation in the South Asian region has gradually declined from the peaks reached in mid-2022 as inflation in India has kept within the Reserve Bank’s target range of 2 to 6 per cent since September 2023.

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