IMF estimates India's economy to grow at seven percent

The IMF report cut China's growth forecast slightly to 4.8% despite challenges in the real estate sector and low consumer confidence. The adjustment was attributed to better-than-expected net exports. In contrast, economic forecasts for Brazil and Russia in 2024 are 3% and 3.6%, respectively. The economic output of the United States is also projected to grow by 2.8%.

In the latest Monetary Policy Committee (MPC) review of the RBI, the Reserve Bank of India (RBI) has projected GDP growth at 4.4% for FY2025 and 4.1% for FY2026, relative to October. It grew to 7.2% in the current financial year, which was attributed to strong consumption and investment trends. Global growth forecast for 2024 and 2025 remains stable at 3.2 percent, with a slight decline of 10 basis points to 3.2 percent for 2025, compared to the previous forecast of 3.3 percent in July.