India's GDP to grow 6.9% in 2005

India’s GDP to grow 6.9% in 2005

The Asian Development Bank suggests that India's 2005 GDP (Gross Domestic Product) will grow 6.9% compared to 6.5% in 2004. All major sectors are expected to contribute to GDP growth. The agricultural sector is projected to grow 4.4%. At the same time, India's industrial sector will likely grow 6.7%, while the service sector should grow 7.7%. ADB also indicates that the country's 2006 GDP growth will slow to 6.1%, mainly due to a decline in the growth of the industrial and service sectors. 2006 projections peg industry growth at 5.2%, while the service sector will expand only 7.3%.