Krishna Srinivasan, director, Asia Pacific Department, IMF, said India and China are expected to jointly account for half the world’s growth in 2023 and 2024, with India’s share at 16% and the remaining being contributed by China.
“India’s economic growth remains robust, driven by a large public capital expenditure push and resilient domestic demand," said Srinivasan.
The IMF recently revised upwards India’s growth estimate to 6.3% in FY24, due to resilient domestic demand and strong investment inflows. Meanwhile, the Chinese economy, it said, is expected to expand 5% in 2023 and 4.2% in 2024, lower than 5.2% and 4.5%, respectively, estimated in April.
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Denne historien er fra October 20, 2023-utgaven av Mint Mumbai.
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