World Bank Forecasts India’s Economy to Grow by 6.7% Annually Over Next Two Years
The World Bank has projected that India’s economy will grow by 6.7% annually over the next two fiscal years, maintaining its position as the fastest-growing major economy globally. This forecast reflects India’s robust economic fundamentals and resilience amid global uncertainties.
In its recent report, the World Bank highlighted that India’s growth is being driven by strong domestic demand, particularly in private consumption and investment. The government’s continued focus on infrastructure development and policy reforms has also contributed to a favorable economic environment.
The report notes that while global economic growth is projected to hold steady at 2.6% in 2024, India’s economy is expected to outpace this significantly, underscoring its pivotal role in the South Asian region. The World Bank emphasizes that sustaining this growth trajectory will require ongoing structural reforms, investment in human capital, and measures to enhance labor market participation, especially among women.
Despite the optimistic outlook, the World Bank cautions against potential risks, including global economic slowdowns, geopolitical tensions, and climate-related challenges. It recommends that India continue to strengthen its macroeconomic framework and build resilience against external shocks to maintain its growth momentum.
