India Retains Fastest Growing Major Economy Title with 8.4% Growth, Manufacturing and Private Spending Rise

• India retains title of world's fastest growing major economy, expanding by 8.4% in last 3 months of 2023 • Growth led by strong manufacturing sector performance, up 11.6% • Private consumption rose 3.5% • Government approved $15B in semiconductor manufacturing investments • IMF forecasts 6.5% India growth in 2024, outpacing China's 4.6%