IMF, ADB cut India growth forecasts amid West Asia tensions
Business
India's economic growth forecast just got a trim: both the IMF and ADB have lowered their estimates for the 2026-27 financial year, thanks to rising oil prices caused by tensions in West Asia.
The IMF now sees India growing at 6.4% (down from 6.5%), while the ADB expects 6.6% (down from 6.9%).
IMF 6.7% ADB 7.3% for India
There's some good news for the future: the IMF predicts India's growth will bounce back to 6.7% in the next financial year, and the ADB is sticking with its optimistic 7.3% forecast for 2027-28.
Globally, things are a bit slower too, but investments in AI could help soften the blow for Asian economies feeling squeezed by higher energy costs.