India: Economy

Economic growth in India accelerated in Fiscal Year 2015 despite a double-digit decline in exports. It is projected to dip marginally in FY2016 due to a slowdown in public investment, stressed corporate balance sheets, and declining exports, then pick up in FY2017 as newly strengthened bank and corporate finances allow a revival in investment. Notwithstanding unexpected delays in enacting some economic reform, the prospects for continued rapid growth are undiminished. Read more from Asian Development Outlook 2016

Economic forecasts for South Asian countries

Country 2016 2017
Afghanistan 2.0 3.0
Bangladesh 6.7 6.9
Bhutan 6.4 6.1
India 7.4 7.8
Maldives 3.5 3.9
Nepal 1.5 4.8
Pakistan 4.5 4.8
Sri Lanka 5.3 5.8
Average 6.9 7.3
Country 2016 2017
Afghanistan 3.0 3.5
Bangladesh 6.2 6.5
Bhutan 4.0 5.0
India 5.4 5.8
Maldives 1.2 1.4
Nepal 10.5 8.2
Pakistan 3.2 4.5
Sri Lanka 4.5 5.0
Average 5.2 5.7
Country 2016 2017
Afghanistan 2.0 -0.7
Bangladesh -0.5 -1.0
Bhutan -28.8 -27.0
India -1.6 -1.8
Maldives -12.6 -10.5
Nepal 10.3 6.4
Pakistan -1.0 -1.2
Sri Lanka -2.0 -1.8
Average -1.4 -1.6

Source: Asian Development Outlook 2016