ADB Raises India's Growth Forecast to 6.9%

• The Asian Development Bank has raised its growth forecast for India for the current fiscal year from 6.5% to 6.9%.

• According to the ADB's 'Asian Development Outlook,' India's growth rate is expected to remain robust in the current fiscal year. The primary reasons for this are strong domestic demand, easing financial conditions, and lower tariffs imposed by the US on Indian goods.

• The report notes that growth projections for the economies of most countries in the Asia and Pacific region may weaken this year and in 2027.

• The pace of economic growth in this region is expected to slow from 5.4% last year to 5.1% in both 2026 and 2027. This is attributed to the ongoing conflict in West Asia and uncertainties surrounding trade.

• The Asian Development Bank (ADB) is a multilateral development bank headquartered in Manila. It was established in 1966 with the objective of reducing poverty in the Asia and Pacific region through inclusive and sustainable development.

• Currently, the ADB has 69 members.