The Asian Development Bank (ADB) has raised India’s growth forecast for the current financial year from 6.5% to 6.9%, citing strong domestic demand and easing financing conditions.
ADB noted that lower U.S. tariffs on Indian goods and trade agreements with the European Union are expected to further support India’s economic momentum.
The outlook also projects India’s growth to accelerate to 7.3% in the next financial year, driven by reforms and anticipated increases in government spending.
While India’s prospects remain robust, ADB cautioned that regional growth across Asia and the Pacific may slow to 5.1% due to global uncertainties and geopolitical risks.
