According to a UNCTAD report, India’s economy will grow at 6.5% in 2024
- According to a UNCTAD report, India’s economy will grow at 6.5% in 2024.
- This projection comes after India’s growth of 6.7% in 2023.
- United Nations Conference on Trade and Development (UNCTAD) report highlights India as the fastest-growing major economy globally.
- Multinational corporations are growing their manufacturing operations in India in order to improve the diversification of their supply chains, as per the UNCTAD report.
- It is anticipated that this action will increase Indian exports and promote economic expansion.
- The rise of the service sector and significant public capital investment were credited for the growth seen in 2023.
- RBI has projected 7% growth rate for the current financial year 2024-25.
- ‘2024 Financing for Sustainable Development Report: Financing for Development at a Crossroads’ was launched last week.
- Global growth is projected to be 2.6% in 2024. This is projected to be slightly slower than the 2.7% in 2023.