Prime Minister Narendra Modi has hailed India’s continued stellar show on the economic growth front, noting that the country is set to top the ten fastest growing major economies ranking in the current calendar year (2024) as well.
The July 2024 World Economic Outlook update of International Monetary Fund has projected that India’s real GDP growth will touch 7 per cent in 2024 to remain as the fastest growing major economy in the world.
India will, this year, in real GDP growth rate terms, outpace both the United States and China, which are projected to grow at 2.6 per cent and 5 per cent respectively, according to IMF report. This IMF report is a closely watched one as it is an indicator of global economic trends.
Even in 2022 and 2023, India remained as the fastest growing major economy in the world and surpassed the real GDP growth rate of both the US and China in those years.
“Top Ten Fastest Growing Major Economies in the World 2024: India Beats U.S., China in the Ranking!,” said a PMO India post in social media platform X, formerly Twitter, on Tuesday, referring to the forecasts and data of IMF WEO update released last month.