Indian GDP growth will touch 7.3% by 2018-19
Monitoring Desk: World Bank forecasts that Indian economy being the fast growing economy will obtain 7.3% GDP growth by 2018-19.
The World Bank published the “Indian Growth History” report, March 2018, which states that in the post-crisis period 2008/2009, the Indian economy grew by an average of about 7% per year.
UkrAgroConsult believes that according to its estimate, India can achieve 10% of economic growth if the services sector will grow by 20% and will be accompanied by growth of 4% and 8% in the agricultural and industrial sectors, respectively.
India’s GDP growth slowed in the last two quarters of 2016-1917 and in the first quarter of 2017-18 due to tax reform and demonetization, but economic activity began to stabilize since August 2017. India’s GDP growth, according to the forecasts of the World Bank, will reach 6.7% in 2017-18 and will accelerate to 7.3% and 7.5% in 2018-19 and 2019-20 respectively.
“At the end of 2017, India has become the fastest growing core economy in the world, but potentially it can achieve even double-digit growth” believed Anil Rai Gupta, chairman and managing director of Indian energy giant Havells.
India is getting edge of a strategic partner of United States in South Asia and North American as well as European countries are preferring to buy Indian products; boosting Indian export sector.