According to International Monetary Fund, global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024. But the news from India is much better.
The IMF said. “Growth in India is set to decline from 6.8 percent in 2022 to 6.1 percent in 2023 before picking up to 6.8 percent in 2024, with resilient domestic demand despite external headwinds.”
IMF chief economist Pierre-Olivier Gourinchas wrote in a blog accompanying the World Economic Outlook update, a quarterly report, “India remains a bright spot.“
India`s economy is slated to account for half of the global growth, together with China, in 2023. Compared to it, just a tenth of it will be coming from the combined might of the U.S., the world`s largest economy, and Europe, which comprises some of the largest economies.
