India to remain the fastest-growing major economy in the world despite global headwinds, said IMF

The International Monetary Fund (IMF) has said that India to remain the fastest-growing major economy in the world despite global headwinds. The IMF released its January update on World Economic Outlook today. It said that India will grow at 6.1 per cent in 2023 before picking up to 6.8 per cent in 2024 fuelled by resilient domestic demand.

IMF also pointed out that the growth in emerging and developing Asia is expected to rise at 5.3 per cent in 2023 and 5.2 per cent in 2024.

On a positive note, IMF said that negative growth in global GDP or global GDP per capita is not expected despite the fear of recession.

The IMF stated that the growth in China is projected to rise to 5.2 per cent in 2023 pointing to rapidly improving mobility.

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