India’s economy to grow 7.5 % this year

Asian Development Bank on Wednesday projected a seven per cent collective growth for South Asian economies in 2022 with the subregion’s largest economy India growing by 7.5 per cent in the current fiscal year before picking up to eight per cent the next year.

Releasing its flagship Asian Development Outlook (ADO) 2022, the Manila-based multi-lateral funding agency said the growth in South Asia is projected to slow to seven per cent in 2022, before picking up to 7.4 per cent in 2023.

The subregion’s growth dynamics are largely driven by India and Pakistan. “South Asian economies are expected to expand collectively by seven per cent in 2022 and 7.4 per cent in 2023, with India — the sub-regions largest economy – expected to grow by 7.5 per cent this fiscal year (FY23) and eight per cent next fiscal year (FY24),” the agency’s ADO report said

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