World Bank Forecasts 7.5% Growth for India

• 04 Apr 2024

The World Bank revised India's growth projection to 7.5% for 2024, part of South Asia's expected 6.0% growth.

• South Asia expected to experience strong growth at 6.0% in 2024, driven by India, Pakistan, and Sri Lanka recoveries.
• India to maintain robust growth in services and industry, supporting a 7.5% output growth in FY23/24.
• Bangladesh anticipates a 5.7% rise in output in FY24/25 despite high inflation and trade restrictions.
• Pakistan's economy expected to rebound by 2.3% in FY24/25 following a contraction.
• Sri Lanka foresees a 2.5% output growth in 2025, bolstered by recoveries in reserves, remittances, and tourism.
• World Bank underscores the need for policies to boost private investment and employment growth in South Asia for resilient growth.