📈 69% of S&P 500 stocks beating the index - a historic record! Pick the best ones with AI.See top stocks

IMF upgrades India's GDP growth forecast amid global slowdown

EditorRachael Rajan
Published 10/10/2023, 03:02 PM

The International Monetary Fund (IMF) has revised its growth forecast for India's Gross Domestic Product (GDP), raising it to 6.3%, according to the 'World Economic Outlook' report published on Tuesday. This comes in contrast to a global economic slump that has seen worldwide growth estimates sliding down to three per cent.

The report highlighted the impact of increased consumption between April and June, which has significantly contributed to the robust outlook for Indian growth in 2023 and 2024. The IMF's upgrade acknowledges India's resilience amidst a challenging global economic landscape.

The IMF's revised estimate underscores India's potential as a key player in the global economy, even as it navigates the complexities of a worldwide economic downturn.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.