India a standout performer amidst sluggish global growth: Seth to WB committee

‘India grew above 8% for three consecutive quarters of FY24, reaffirming its position as a standout performer amidst sluggish global growth trends’

Despite a challenging global scenario, India’s economy has shown robust growth over the past year backed by sustained consumption and investment demand, a top Indian official told members of a World Bank committee here.

The GDP growth estimate for the fiscal, which has been revised upwards from 7.3 per cent to 7.6 per cent in the second advance estimates, highlights the enduring strength and resilience of the Indian economy, India’s Economic Affairs Secretary Ajay Seth said while addressing the Development Committee meeting here on Thursday.

“India grew above 8 per cent for three consecutive quarters of FY24, reaffirming its position as a standout performer amidst sluggish global growth trends,’ Seth said.

He said that similar sentiments have been echoed by various agencies who have revised India’s fiscal 24 growth estimate closer to 8 per cent. India’s proactive stance on reform and investment in sustainable growth avenues sets a benchmark for emerging economies.