India's 2024 economic growth projection revised upwards by U.N. to nearly 7%.

Economy Business

The World Economic Situation and Prospects as of mid-2024 said “India’s economy is forecast to expand by 6.9% in 2024 and 6.6% in 2025, mainly driven by strong public investment and resilient private consumption”.The World Economic Situation and Prospects as of mid-2024, released Thursday, said, “India’s economy is forecast to expand by 6.9% in 2024 and 6.6% in 2025, mainly driven by strong public investment and resilient private consumption. Although subdued external demand will continue to weigh on merchandise export growth, pharmaceuticals and chemicals exports are expected to expand strongly.”


      The U.N. has revised its economic growth projection for India upward to 6.9% for 2024, from the previous forecast of 6.2% made in January.

      The revision is attributed to robust domestic demand and strong growth in the manufacturing and services sectors.

      The GDP growth projection for India for 2025 remains unchanged at 6.6% in the latest assessment.

 

     


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