US, Oct. 8 -- The World Bank has upgraded India's economic growth forecast for FY27, citing resilient domestic demand and continued strength in key sectors of the economy.

In its latest South Asia Economic Update, the multilateral institution raised India's GDP growth projection by 0.5 percentage points to 7.1 per cent, from its earlier estimate of 6.6 per cent. The World Bank said India's growth momentum remains robust, supported by sustained expansion in the industrial and services sectors.

It noted that the country's long-term growth prospects continue to be underpinned by a series of structural reforms, including labour code consolidation, Goods and Services Tax (GST) reforms, tariff rationalisation, the Insolvency and Bankruptcy C...