India to remain global growth driver in foreseeable future: IMF executive director
In an interview with ANI, he noted that India, ever since the COVID-19 pandemic, has witnessed consistent growth at 7 per cent plus. He predicted that India will have 8 per cent growth in the fourth quarter and called it «good» growth considering the current global economic situation.
Asked where India stands amid the current global economy, he responded, «I think India will continue to be the driver for global growth in the foreseeable future. The maximum sort of contributor to global growth. I expect growth in India to be consistently above 7 per cent in this decade. You would recall back in September 2021, when I was with the government as well. I predicted that India will emerge out of COVID with 7 per cent plus growth. So I continue to maintain that assessment.»
Subramaniam, India's former Chief Economic Adviser, said that the IMF has revised its projection for growth for India in 2024 to 7.8 per cent, which he emphasised reflects overall growth.
On being asked about how India's economy is viewed in the IMF meetings being held in the US, he said, «So, if you look at the Indian economy now, ever since COVID, it has grown consistently at 7 per cent plus, 9.7 per cent the year after COVID, then 7 per cent and then this year, 8.2 per cent, 8.1 per cent, and 8.4 per cent growth in the first three quarters. So even with a much lower 7.3 per cent growth, if it so happens, actually in the fourth quarter, India will have an average of 8 per cent growth. And I think that is very good in the current global economic
