Per a report from Bloomberg U.K., India surpassed U.K. in the "final three months of 2021." The calculations were done using the International Monetary Fund database and historic exchange rates on the Bloomberg terminal. The IMF’s own forecasts show India overtaking U.K. in dollar terms on an annual basis this year,...
World Bank Appoints India’s Indermit Gill as Chief Economist
World Bank President David Malpass announced the selection of Indermit Gill as the Chief Economist of the World Bank Group and Senior Vice President for Development Economics. Gill succeeds American economist Carmen Reinhart in the role. His appointment is effective on September 1, 2022. Gill spearheaded the influential 2009 World...
India’s Forex Reserves Rise to a Record $642 Billion
According to India's Reserve Bank of India India’s foreign exchange reserves climbed by $8.9 billion, reaching a new high of $642 billion in the week ending September 3. This was due to a gain in foreign currency assets, a major component of overall reserves. Expressed in dollars, foreign currency assets ...
India to Spend $1.4 Trillion on Infrastructure
Addressing the annual meeting of the International Monetary Fund at Washington, D.C. a few days ago , India's federal minister for finance Nirmala Sitharaman said, "As we envisage becoming a five trillion-dollar economy by 2025, our focus on creating world-class infrastructure has become even more resolute ... we now are...
IMF, Bloomberg: Asia's Growth Champion is India
According to the International Monetary Fund, the global economy, in spite of having reached a plateau, will continue to grow at 3.7 percent in 2019. The outlook for 2019 is better than one might expect given the negative daily news around the globe. Strong economic growth in the U.S. will...
IMF: India's Economy to Grow Faster than China's
In its World Economic Outlook report the International Monetary Fund said that India should grow at 7.3 percent in 2018-2019, up from 6.7 percent last year but lower than its earlier projection of 7.4 percent in April this year. The projection was revised down due to the increase in global...