The Asian Development Bank (ADB) on Thursday raised India's GDP growth forecast for the current fiscal to 7 per cent, from 6.7 per cent earlier, saying the robust growth will be driven by public and private sector investment and improvement in consumer demand. In its April edition of the Asian Development Outlook, ADB said India would remain "a major growth engine" in the Asia and Pacific region. For the 2025-26 fiscal, ADB has projected India's growth at 7.2 per cent. The economy grew robustly in fiscal 2023 with strong momentum in manufacturing and services, the Bank stated. It will continue to grow rapidly over the forecast horizon. Growth will be driven primarily by robust investment demand and improving consumption demand. Inflation will continue its downward trend in tandem with global trends. To boost exports in the medium term, India needs greater integration into global value chains, ADB further noted.
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