New Delhi, Mar 11 (KNN) World Bank President Jim Yong Kim remained optimistic about the Indian economywhich is expected to grow at 6 per cent in the next fiscal year, despite the  “disappointing” 5 per cent growth in the current fiscal year ending March 31, 2013.
"Growth rate of 5 per cent here is somewhat disappointing but we are very encouraged by what has happened and what will happen and we think India will get back to higher levels of growth," Kim told the reporters after meeting the Finance Minister P Chidambaram.
"India is going to grow by 6 per cent next year and we hope for even more increase in future," he added.
Speaking to reporters, Kim commended India’s extraordinary contribution to the global economy.  “Its share in the global economy has almost doubled in the five years between 2005 and 2010. So, India, overall, is a fantastic success story," he said.
The World Bank President was also optimistic that the Indian economy would grow at pace as the export increases.  "The Indian economy like any other economy is subject to the global slowdown. As the export market starts doing better, we think India will do better as well," he said.
The Indian economy grew at a worse-than-expected 4.5 per cent in the third quarter and is heading for a decade-low growth of 5 per cent in the current fiscal year ending March 31, 2013.
However, during the current fiscal, the country’s GDP is estimated to have grown 5 per cent and the growth rate is likely to improve to 6.1 - 6.7 per cent in 2013-14.
Kim is on a three day visit to India during which he will meet Prime Minister Manmohan Singh.  He is scheduled to meet Chief Minister AkhileshYadavin Uttar Pradesh tomorrow and will also be visiting Lucknow and Kanpur to see the development challenges in the state, which accounts for the largest number of India's poor.
This is Kim’s first visit to India after taking over as President of the World Bank Group in July last year.(KNN/SD)