NEW DELHI: India’s economy is likely to grow at 7.5% in FY24, according to the World Bank that has forecast growth to moderate to 6.6% in FY25.
In its latest South Asia Development Update released Tuesday, it said that overall, the growth in South Asia is expected to be strong at 6% in FY24, driven mainly by robust growth in India and recoveries in Pakistan and Sri Lanka.
“In India, which accounts for the bulk of the region’s economy, output growth is expected to reach 7.5% in FY23/24 before returning to 6.6% over the medium term, with activity in services and industry expected to remain robust,” the bank said.
In India, the World Bank said, economic activity surprised on the upside in the December-ended quarter of FY24 with growth of 8.4% from a year ago.
