UN Raises India’s 2024 Growth Forecast to 6.9%, Maintaining Position as Fastest-Growing Major Economy.

The United Nations has revised its growth projection for the Indian economy, raising it by 0.7 percentage points to 6.9% for this year, according to the latest mid-year update of the World Economic Situation and Prospects (WESP) report. This adjustment reaffirms India’s position as the fastest-growing large economy globally.

Hamid Rashid, who leads the UN’s Global Economic Monitoring Branch, highlighted several factors contributing to this optimistic outlook. Notably, the country has experienced a significant reduction in inflation, easing fiscal pressures compared to other nations. Additionally, India’s export performance has been notably strong, and the nation is witnessing increased foreign investment, particularly from Western sources, while investment flows to China have declined.