India's growth for next year pegged at 6.5%; higher than IMF projection

Sticky global inflation could keep rates higher for longer, hurting growth including in emerging markets like India

India’s economy will likely slow for a second straight year due to tightening financial conditions and supply chains disruptions from a prolonged war in Europe, according to officials familiar with the matter.

Gross domestic product is expected to grow 6.5 per cent in the fiscal year starting April, compared with the 7 per cent expansion estimated for the current year, the officials said, asking not to be identified before a formal announcement. That reading is higher than the International Monetary Fund’s projection for 6.1 per cent growth — which will still make it the quickest pace among major economies.

Sticky global inflation could keep