India to Lead Global Economy with Steady 6.7% Growth, Says World Bank Report

India is projected to remain the fastest-growing major economy with a steady growth rate of 6.7% over the next three years, according to a World Bank report. The global economy, however, is expected to grow at a slower pace. The report highlights India's robust public and private investment as key factors in this growth.

India is poised to lead the global economy with a steady growth rate of 6.7% over the next three years, according to a report released by the World Bank on Tuesday. The report attributes this growth to robust public and private investment in the country.

The World Bank's Global Economic Prospects report further indicates that India's growth picked up to 8.2% in fiscal year 2023/24, outperforming earlier estimates by 1.9 percentage points. However, global growth is projected to remain modest, holding steady at 2.6% in 2024 and slightly increasing to 2.7% by 2025-26, well below pre-COVID levels.

While the South Asia region is expected to see slower growth, mainly due to a moderation in India's growth, other countries like Bangladesh will maintain robust growth rates, and Pakistan and Sri Lanka are expected to experience strengthening economies.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)