Commenting on the growth forecast of IMF, the Prime Minister, Shri Narendra Modi said that India is a global bright spot, a powerhouse of growth and innovation. It is because of strength and skills of our people, Shri Modi said.
He has also reiterated commitment that we will continue to strengthen our journey towards a prosperous India, further boosting our reforms trajectory.
Responding to the X threads of IMF, the Prime Minister said;
“Powered by the strength and skills of our people, India is a global bright spot, a powerhouse of growth and innovation. We will continue to strengthen our journey towards a prosperous India, further boosting our reforms trajectory.”
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A projection about the Indian economy’s ranking and growth based on data from the International Monetary Fund (IMF). Here’s a breakdown of the key points:
- In 2026, the Indian economy is projected to become the 4th largest in the world.
- By 2027, the Indian economy is expected to move up to the 3rd position in terms of nominal GDP, surpassing both Japan and Germany.
- The expansion of the Indian market is expected to attract international investors, leading to increased foreign direct investment and portfolio fund inflows that would support the financial markets.
The IMF’s World Economic Outlook database for October 2023 provides these GDP projections. It predicts that India’s economy is anticipated to experience significant growth in the coming years, making it one of the world’s largest economies in terms of nominal GDP.
