Global Growth

Nageswaran says IMF's latest estimates for global growth appear outdated

India continues to remain a relative "bright spot" in the world economy, and will alone contribute 15 per cent of the global growth in 2023, International Monetary Fund (IMF) managing director Kristalina Georgieva said. While digitisation pulled out the world's fifth-largest economy from pandemic lows, prudent fiscal policy and significant financing for capital investments provided in the next year's budget will help sustain the growth momentum. "India's performance has been quite impressive. For this year, we expect India to retain a high growth rate, 6.8 per cent for the year that ends in March. For FY 2023/24 (April 2023 to March 2024) we project 6.1 per cent, a bit of slow down like the rest of the world economy, but way above the global average. And in that way, India is providing about 15 per cent of global growth in 2023," Georgieva told PTI in an interview. That is the fastest growth rate among major economies. India remains a bright spot at a time when the IMF is projectin

Despite doing better than rest of the world, inflation remains a key challenge to country's growth prospects, says

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That institution warned in October that more than a third of the world economy will contract and there is a 25% chance of global GDP growing by less than 2% in 2023

Citigroup on Wednesday forecast global growth to slow to below 2% next year, echoing similar projections by major financial institutions such as Goldman Sachs, Barclays, and J.P. Morgan

Prime Minister Narendra Modi said that India will have to focus on global good and world welfare during its presidency of G20

The world economy will be as weak next year as it was in 2009 after the financial crisis as the conflict in Ukraine risks becoming a "forever war," the Institute of International Finance said

Barclays forecast a slowdown in global growth to 2.2% in 2023 versus 2.8% this year, and warned that it expects advanced economies to contract in Q4 with zero growth next year

The finance minister said if India and the United States joined efforts in growing their respective economies, they might be the engines of global growth within the next two decades

The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said

Credit rating agency Moody's Investors Service on Thursday said the outlook for global credit conditions this year has turned more negative amid slower global growth, rising borrowing costs

West Texas Intermediate climbed above $111 a barrel following four weekly gains, the longest such run since February.

Says the pandemic has not really impacted the long-term growth trajectory of the country

Global growth rebound has solidified, but spread of delta variant poses risks, Moody's Investors Service said in its latest assessment of global economy as the pandemic continues.

Georgieva, speaking at an online event sponsored by the Peterson Institute for International Economics, said that economic recovery will be held back unless the pace of Covid-19 vaccination picks up

Investment in upskilling could boost global GDP by $6.5 trn by 2030, including by $570 bn (over Rs 40 trn) in India alone -- the third highest after China and the US, a WEF report said

Asserting that growth patterns must follow a human-centric approach, Prime Minister Modi said discussions on global growth cannot happen only among a few and the "table must be bigger"

B2Broker is an established technology and liquidity provider with a firm foothold in the FX and Crypto online trading sector. The company has plans for further expansion in the Indian region.

PHDCCI President D K Aggarwal said disruptions in the global supply chains will not only hit China's exports but also the exports of the importing countries