Punjab, Oct. 6 -- The World Bank has raised India's FY27 growth forecast to 7.1%, from the 6.6% it projected in April. The reason is that the first quarter came in at 7.8% - well ahead of what anyone expected.
The revision, and what follows it
7.1% for FY27, then 7.2% in FY28 and 7.0% in FY29.
The Bank attributes it to strong industrial and services momentum backed by reforms, and says India will stay ahead of most peers despite costlier energy.
A half-point upgrade mid-year is a large move for a multilateral forecast. They are revised cautiously and usually downward.
Why the data supports it
Industrial production hit 8.0% in August, with manufacturing at 9% and 18 of 23 industry groups growing. The manufacturing PMI rose to 55.1 in S...