In its latest update, the World Bank has raised its projection for India’s economic growth in 2024 to 7.5%, up by 1.2% from its previous estimate. The bulk of the region’s economy, India, is expected to see output growth of 7.5% in FY23/24, before settling at 6.6% over the medium term. The World Bank highlighted that services and industry sectors are likely to maintain robust activity levels. The Bank also mentioned that the recent growth in the Indian economy was supported by significant increases in investment and government spending.