As the world grapples with large-scale violence between countries, a beacon of hope emerges in India’s rapid economic stride despite the global gloom surrounding wars and the world economy. From the IMF to UNCTAD, the Indian economy is receiving a thumbs up as it triumphantly treads on a positive course.
The UNCTAD math
India’s economy is projected to grow by 6.5 per cent in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive impact on Indian exports.
UN Trade and Development (UNCTAD) in its report released on Tuesday said that India grew by 6.7 per cent in 2023 and is expected to expand by 6.5 per cent in 2024, continuing to be the fastest-growing major economy in the world.
The expansion in 2023 was driven by strong public investment outlays as well as…
