New Delhi. Crude oil is expensive. Tension between Iran and America and war between Russia and Ukraine continue. Due to these reasons, the economy of many powerful countries of the world is shaky, but India's economy remains strong even in such global conditions. Many rating agencies had earlier estimated that India's growth rate (GDP) this year would be 6.8 percent. Now the World Bank has said that despite high interest rates, expensive crude oil and market instability, India's economy has performed better than expected.
In its latest report released on Tuesday, the World Bank has estimated that India's GDP may be 7.1 percent in the financial year 2026-27. Earlier, the World Bank had estimated India's GDP to be 6.6 percent for this financial year. The World Bank report said that strong domestic demand and strong exports will play a big role in boosting India's economy. According to the World Bank, India will maintain a strong position among the fastest growing large economies of the world. The World Bank has said that despite all the global challenges, India's medium-term growth prospects are strong. India's economy has done this despite external pressures.
However, the World Bank has warned of some risks such as increase in crude oil prices, El Nino and a possible fall in the stock market. In the report, the World Bank has said that these may have an impact on India's economy. Due to which there may be fluctuations in the inflow of foreign investment and capital. The World Bank has said that it is important to keep an eye on the global situation. The World Bank has said that Artificial Intelligence i.e. AI can bring a big opportunity for India. In the report, India has been counted among the top 10 emerging markets of the world in terms of AI. Investment in AI in India was to reach $4.1 billion by 2025. Whereas, in 2024 only $1.2 billion was invested in AI. The World Bank has said that AI should be used as a means to increase development and productivity rather than as a technology.