World Bank has raised India’s GDP growth forecast for 2022-23 to 6.9% from 6.5%.

  • The World Bank said on 6 December that the Indian economy is set to grow at 6.9% in 2022-23, upping its forecast of 6.5% growth made in October.
  • It said that 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 world’s fastest growing major economies on the back of strong domestic demand.
  • It noted that compared to other emerging markets, India’s economy is relatively insulated from global spillovers. That said, this is partly because India has a large domestic market and relatively low exposure to international trade flows.
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