US: The World Bank has increased its growth projection for the Indian economy for the fiscal year 2022–2023 from 6.5 percent to 6.9 percent. The World Bank commended India’s economic resilience despite a difficult external environment and pointed out that, in comparison to other emerging markets, India’s economy is substantially protected from global spillovers.
According to the global financial institution, despite external difficulties, India is predicted to continue to grow at one of the quickest rates among developed nations because of strong domestic demand. In a related move, Fitch Ratings has maintained its projection for India’s economic growth for the current fiscal year of 7%.
The Indian economy may be among the fastest-growing emerging economies this year, according to the international credit rating agency. Additionally, it predicted that GDP will expand by 6.9 percent in 2024–2025 and by 6.2% in 2023–2024.