The World Bank reaffirmed India’s GDP prediction for the current fiscal year at 6.3% on Tuesday. Despite global challenges, the international agency believes that India’s strong service sector would enable it to attain this growth rate. In its April report, the World Bank predicted GDP growth at 6.3%. In 2022-23, India’s growth rate was 7.2%.

India’s Gross Domestic Product (GDP) demonstrates the country’s economic strength and potential. India, as one of the world’s fastest-growing major economies, has achieved great gains in a variety of fields. Even in the face of global economic crises, its GDP has shown durability and adaptation in recent years.

Agriculture, manufacturing, and services are among the industries that contribute to India’s GDP. The country’s information technology and software services sectors, in particular, have received international recognition, driving India to the forefront of global technical innovation.

The Asian Development Bank (ADB) cut its growth forecast for the current fiscal year to 6.3% last month. The Indian economy would grow at a rate of 6.5% in 2023-24, according to the latest RBI prediction. In its most recent study, the Organization for Economic Cooperation and Development (OECD) raised India’s growth prediction from 6% to 6.3 %. Fitch, the global rating agency, has kept India’s growth rate prediction at 6.3%.