New Delhi, October 13 (Daily Kiran) : The International Monetary Fund (IMF) has increased its growth forecast for India to 7% for 2027, up from the previous estimate of 6.4%. This revision underscores the nation’s economic strength, even amid geopolitical tensions in the West and rising crude oil prices, according to economist Mithali Neelkor.
Neelkor noted that the rapid growth can be attributed to several government initiatives, particularly in infrastructure, which has seen significant development over the past decade.
She emphasized that despite ongoing tariffs and disruptions from the United States, India’s diversification of its trade basket has been key to its robust growth. Free trade agreements with countries such as the UK and Oman have facilitated this expansion.
Another economist, Vinod Rawal, expressed pride in the IMF’s prediction, stating that it signifies the Indian economy’s continued strength and its position as one of the fastest-growing major economies globally.
Rawal highlighted that the government’s decision to provide tax relief for incomes up to 1.2 million rupees could boost consumer spending, positively impacting the economy. He also pointed out the rapid advancements in the semiconductor sector, which may benefit the Indian economy in the future.
He further stated that domestic demand, supportive government policies, and growth in new technology sectors are likely to propel the Indian economy forward.
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