India confirmed as world’s fastest growing economy

In its July outlook, the International Monetary Fund (IMF) confirmed India as the world’s fastest growing economy.

Report informs via foreign media that IMF raised its 2023 growth forecast for India by 20 basis points to 6.1%.

The revision was guided by stronger growth in the fourth-quarter last year, powered by domestic investment.

The prediction of this year’s global growth was raised by 0.2% compared to April.

IMF's 2024 projection for 6.3% growth in India stayed unchanged from its April projection.