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PM Modi says India is a global bright spot after IMF raises growth forecast
According to IMF projections, India's growth was the highest of any country.
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Indian Prime Minister Narendra Modi hailed his nation as a "global bright spot" and "powerhouse of growth and innovation" in response to an International Monetary Fund (IMF) growth forecast. "It is because of the strength and skills of our people," PM Modi said reiterating his commitment to strengthen the journey towards a prosperous India, further boosting the reforms trajectory.
Retweeting the post shared by IMF on X, formerly known as Twitter, Modi wrote, “Powered by the strength and skills of our people, India is a global bright spot, a powerhouse of growth and innovation. We will continue to strengthen our journey towards a prosperous India, further boosting our reforms trajectory.”
India's growth projections are 6.5 per cent in 2023 and 5.7 per cent in 2024 based on calendar year, the IMF report revealed. As per the data shared, the economic outlook for the United States was at 2.1 per cent in 2022; 2.1 per cent in 2023, and 1.5 per cent in 2024.
The IMF's projections revealed that the world economic growth will slow from 3.5 per cent in 2022 to 3 per cent this year and 2.9 per cent next year, a 0.1 percentage point downgrade for 2024 from July.
The IMF has stressed that all countries should prevent geoeconomic fragmentation that impedes progress toward shared prosperity. "Instead, they should work to restore trust in rules-based multilateral frameworks that enhance transparency and policy certainty. A robust global financial safety net with a well-resourced IMF at its centre is essential," it added.
Powered by the strength and skills of our people, India is a global bright spot, a powerhouse of growth and innovation. We will continue to strengthen our journey towards a prosperous India, further boosting our reforms trajectory. https://t.co/CvHw4epjoZ
— Narendra Modi (@narendramodi) October 10, 2023
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