India remains world’s fastest growing major economy globally: World Bank

The World Bank on Tuesday (June 11) predicted that India is set to remain the fastest-growing major economy globally, though its growth rate is expected to slow. The June ‘Global Economic Prospects’ report maintained the GDP growth forecast for India at 6.6 per cent for FY25.

“This moderation is mainly due to a slowdown in investment from a high base. However, investment growth is still expected to be stronger than previously envisaged and remain robust over the forecast period, with strong public investment accompanied by private investment,” the report said.

In April, the global agency increased its projection for India’s GDP growth by 20 basis points to 6.6 per cent for the current financial year.