According to a forecast, the Indian economy would expand by 7.1% to 7.6%, making it the fastest-growing economy in the world.
Despite altering geopolitical conditions around the world, the Indian economy is expected to expand by 7.1% to 7.6% this fiscal year, according to research released on Wednesday.
The forecast for growth is hampered by rising commodity costs, soaring inflation, supply constraints, and altering geopolitical conditions around the world.
India's economy would probably continue to grow at the highest rate in the world, it was underlined.
"In 2022–2023 and 2023–2024, India is projected to increase by 7.1–7.6 per cent and 6–6.7 per cent, respectively.
As a result, India will continue to have the fastest-growing economy in the world over the coming years, propelling global growth "stated the report.
The GDP growth forecast by the Reserve Bank of India (RBI) for the current fiscal year ending in March 2023 is 7.2%.
The research also stated that there will be major risks due to uncertainties in the global business ecosystem.