India’s GDP growth is expected to be 7% this year with inflation averaging 4.6%, the Asian Development Bank (ADB) said in its Asia Development Outlook July report on Tuesday. The Bank also retained its projections for 2025-26, reckoning that GDP will rise 7.2% and retail price rise will average 4.5% next year.
The Bank also left unchanged its 4.5% growth projection for China in 2024, but pared its inflation estimate for the country from 1.1% to 0.5%. On the whole, developing Asia is now projected to grow 5%, compared with 4.9% estimated in April, the ADB said.