The International Monetary Fund (IMF) has confirmed its 2024 GDP growth forecast for India at 7%. This follows an impressive 8.2% growth in 2023.
However, growth is expected to slow to 6.5% in 2025 due to waning pandemic demand. The IMF also raised the U.S. growth estimate for 2024 to 2.8% from 2.6%, and 2.2% for 2025, up from 1.9%. In contrast, China’s growth outlook was lowered to 4.8% for 2024. The IMF warns that issues in China's property sector could hurt global trade. Global inflation is predicted to decrease to 5.8% in 2024, with India's inflation at 4.4% for FY25.