World Bank: India on right track with FY27 at 7.1%
The World Bank thinks India's economy is on the right track, saying that if the country keeps growing at 6% to 7% for decades, it could unlock some major development gains.
While hitting an 8% growth rate might push India into high-income territory by 2047, World Bank Group chief economist for Asia Franziska Ohnsorge believes steady, reliable progress matters more in the long run.
The latest forecast even bumped up India's expected growth for FY27 to 7.1%, thanks to strong demand at home.
India growth led by domestic demand
Unlike East Asian economies that rely heavily on global trade and AI supply chains, India's growth is mostly fueled by its own domestic market.
That means less risk from global tech swings but also fewer quick boosts from international trends.
Ohnsorge also pointed out that with South Asia's working-age population share set to peak by 2034, now is the time for smart reforms in jobs and pensions, so young people today can benefit from tomorrow's opportunities.