Posted 12/31/2023, 6:33:11 AM
India to Remain Fastest-Growing Major Economy Despite Global Slowdown
- India expected to remain world's fastest-growing major economy in 2023 and 2024, with over 6% GDP growth forecast
- Growth resilience attributed to rising domestic demand, moderate inflation, stable interest rates, robust forex reserves
- Global economy faces slowdown, with IMF projecting deceleration from 3.5% growth in 2022 to 2.9% in 2024
- Retail inflation in India declining from peak of 7.44% in July 2022 to 5.55% in November 2023
- RBI policy aims to keep inflation around 4% target; interest rate cuts possible in 2024 if conditions allow