World Bank, in its report, credited India's robust growth for the economic growth in the region. The recoveries in Pakistan and Sri Lanka economies also drove the growth in the region.
The World Bank has raised Indias economic growth forecast by 1.2 per cent to 7.5 per cent for 2023-24, on the back of robust activity in services and industry in its latest update for South Asia.
India Business News: The World Bank forecasts India's economy to grow at 7.5% in 2024, contributing to South Asia's 6.0% growth. The World Bank's South Asia Development Up
Even with a modest 6% annual GDP growth, India will be the world’s third largest economy by 2028. All the more reason why the focus must be on boosting per capita GDP to $13,000-14,000 levels for a “developed India” by 2047.
Morgan Stanley revised India s GDP growth forecast for FY25 to 6.8 percent from its previous estimate of 6.5 percent, citing sustained momentum in industrial and capital expenditure activities.