IMF says India remains growth engine for world, monitoring impact of higher oil prices

IMF says India remains growth engine for world, monitoring impact of higher oil prices

India's economy stands out as a powerhouse of global growth, as noted by the IMF. The second quarter showcased an impressive 7.8% growth, surpassing expectations. This surge was driven by vibrant services and robust exports. The IMF is currently observing how oil prices might affect India’s financial landscape, with an updated forecast set to release next month.

India's GDP Growth Hits 7.8% in Q2, Outpacing Global Expectations

India's GDP grew by 7.8% in the second quarter, exceeding initial projections and cementing its role as a primary driver of global economic expansion, according to the International Monetary Fund (IMF). The growth was underpinned by a strong performance in the services sector and a rise in exports. However, the IMF is now monitoring the potential volatility of oil prices and their impact on India's current account and inflation metrics. The fund…

IMF calls India key engine of global growth

Washington, Sep 10 (SocialNews.XYZ) The International Monetary Fund (IMF) on Thursday described India as a key engine of global growth after the country’s economy expanded 7.8 per cent in the second quarter, exceeding its expectations and the consensus among other observers. The stronger-than-expected performance was driven by services and exports, even as the economy faced an energy price shock, said Julie Kozak, Director of the IMF’s Communica…