Washington/new delhi: After a sharp slowdown pushing down its projected growth to 5.4 percent in the fiscal year ending March 2013, the World Bank expects India to grow at 6.4 percent this year, rising to 7.3 percent by 2015.
The slowdown in India, South Asia’s largest economy, also weakened growth in the region to an estimated 5.4 percent in 2012 (7.4 percent in 2011), said the World Bank’s latest Global Economic Prospects, issued yesterday.
Regional GDP is projected to grow by 5.7 percent in the 2013 calendar year, and by 6.4 percent and 6.7 percent in 2014 and 2015, respectively, driven by policy reforms in India, stronger investment activity, normal agricultural production, and improvement in export demand.
However, growth in the region remains vulnerable to an uncertain external environment and country-specific factors, the report said suggesting a resumption of financial market tensions in the Euro Area or protracted debt uncertainty in the United States would affect the South Asia region through both trade and financial channels.
IANS
