World Bank upgrades India’s GDP growth forecast for 2022-23 to 6.9 percent from 6.5 percent

The World Bank today said that the Indian economy is set to grow at 6.9 per cent in 2022-23, raising its forecast of 6.5 per cent growth made in October. It said India has demonstrated resilience despite a challenging external environment. In a statement, the World Bank said that despite these challenges, India is expected to register strong GDP growth and remain one of the fastest growing major economies in the world, due to robust domestic demand. It noted that India’s economy is relatively insulated from global spillovers compared to other emerging markets. It said, this is partly because India has a large domestic market and is relatively less exposed to international trade flows.

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