India to grow at 6.5% in 2024: UNCTAD
An increasing trend of multinationals extending their manufacturing processes into India will have a positive impact on Indian exports, says UNCTAD.
An increasing trend of multinationals extending their manufacturing processes into India will have a positive impact on Indian exports, says UNCTAD.
Goyal said India can achieve this feat given the "continuance of good governance" that the country has seen over the past eight-nine years.
This brings India's GDP growth for the March quarter to an one-year low despite managing to outdo expectations by most analysts.
The GDP growth projections range between 5.4% and 9.1%, but there is near-consensus that high inflation and rate hikes will affect India’s economic growth.
The trade body said India will face restraints on several fronts due to the Russia-Ukraine war.
Sales tax collection, retail activity and PMIs suggest solid momentum, but high oil prices and supply distortions remain a drag on growth, Moody's says.
Even though the recovery is yet to become broad-based, Indian economy should benefit from the resumption of contact-intensive services, World Bank said.