ADB raises India's FY27 GDP growth to 6.9%, flags West Asia risks
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The Asian Development Bank (ADB) has raised India's GDP growth forecast to 6.9% for the current fiscal year, driven by strong domestic demand and easing financing conditions. The ADB also warned that a prolonged conflict in West Asia could undermine India's macroeconomic performance through higher energy prices and disruptions to trade flows.
The Asian Development Bank (ADB) has projected India's GDP growth to remain robust at 6.9% in the current fiscal year. This growth is driven by strong domestic demand, supported by easing financing conditions and lower US tariffs on Indian goods. The Indian economy grew 7.6% in the previous fiscal year, faster than the 7.1% recorded in the previous year. The ADB has also warned that a prolonged conflict in West Asia could undermine India's macroeconomic performance. Inflation is projected to more than double from 2.1% to 4.5% in the current fiscal year due to a rebound in food prices and higher global oil prices. Growth is projected to rise to 7.3% in the next fiscal year, driven by domestic reforms and the effects of trade agreements.
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