By Admin 
IMF on India’s Economic Growth: India is continuously progressing rapidly on the front of economic development and has now established its strong presence among the top economies of the world. After reaching fourth place in the global economy, India has set a target of becoming a developed nation by 2047. Meanwhile, international organizations are also openly accepting India’s economic strength.
The International Monetary Fund (IMF) has described India as an important pillar of global development. Before the World Economic Outlook (WEO) to be released in January, IMF spokesperson Julie Kozak has given this big statement regarding India’s economy.
IMF impressed by India’s growth
IMF had estimated India’s economic growth rate to be 6.6 percent in the financial year 2025-26 on the basis of strong domestic consumption. During the press conference, Julie Kozak said that India’s third quarter results were better than expected. In such a situation, India’s growth estimate may be revised in the WEO update coming in January. This clearly indicates that IMF’s confidence regarding India’s growth rate has strengthened further.
The United Nations (UN) has also made a major revision in its forecast regarding India’s economic growth. The growth estimate for fiscal year 2026 has been increased from 4.4% to 6.6% and for 2027, the growth rate is estimated at 6.7%. According to the UN, this improvement has been made due to the boom in private consumption and huge increase in public investment. Besides, the impact of American high tariffs on Indian exports has also been assessed to be limited.
World Bank also increased GDP growth estimate
The World Bank has raised India’s GDP growth forecast for the current financial year to 7.2 percent, which is 0.9 percent higher than its June estimate, on the back of strong domestic demand and tax reforms. The World Bank’s report ‘Global Economic Prospects’ states that: Growth may slow to 6.5% in 2026-27.
This estimate is based on the assumption that 50% US import duty will be applicable. Despite this, the report says that India will maintain the fastest growth rate among the world’s largest economies.
Domestic demand became the biggest force
According to the World Bank, despite higher duties on some exports to America, there has been no major impact on India’s growth rate. The reason for this is- strong domestic demand, diversification of exports and improvement in private consumption. America’s share in India’s total merchandise exports is about 12 percent.
The report further states that growth may reach 6.6% in the financial year 2027-28. Strength of service sector, improvement in exports and increase in investment will form its basis. The World Bank had estimated India’s growth rate to be 6.3 percent in June, which has now been increased.
The increased projections of three global institutions – IMF, United Nations and World Bank – indicate that India’s economy is growing strongly despite global uncertainties. On the back of strong domestic demand, tax reforms and investment, India can remain among the world’s fastest growing economies in the coming years.
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