India's GDP growth is expected to reach 6.4% in 2024, and will hit 7% in 2026, according to S&P Global.
India's economy is expected to power ahead in the next three years, leading growth in the region.
Similarly, other emerging markets such as Indonesia, Malaysia and the Philippines are set to see positive GDP growth this year and the next due to strong domestic demand, the report said.
S&P lowered India's growth outlook to 6.5% in fiscal 2025 — down from their previous prediction of 6.9%, but expects GDP growth to jump to 7% in fiscal 2026.
In comparison, China's growth is predicted to come in at 5.4% in 2023, 0.6% higher than S&P's previous forecast, while growth in 2024 is expected to be 4.6% — higher than the previous forecast of 4.4%.
Asia, Pacific, South Asia, Southeast Asia, Indonesia, Malaysia, Philippines