The International Monetary Fund (IMF) has raised its forecast for India’s GDP growth to 6.6 % for the 2025‑26 fiscal year, up from the earlier estimate of 6.4 %. Commerce and Industry Minister Piyush Goyal said the revision confirms India’s fast‑paced growth story despite global uncertainties.
Speaking at an event in New Delhi, Goyal praised Prime Minister Narendra Modi’s leadership for keeping India on an upward trajectory. “The IMF now expects us to grow at 6.6 % next year, and in the first quarter of this fiscal year we delivered 7.8 % growth. That pace will continue,” he said. The minister added that India’s growth will be “almost twice” the global growth rate, which the IMF projects at 3.2 % for 2025.
The upgrade comes after a strong Q1 performance. In the April‑June quarter of 2025‑26, India’s GDP grew by 7.8 % – its fastest pace in at least a year – thanks to robust private consumption. The IMF cited a “carryover from a strong first quarter” as the reason for the boost, saying it more than offsets the higher U.S. tariffs on Indian exports that have been in place since July.
The World Bank also lifted its outlook, boosting India’s FY26 growth forecast to 6.5 % from 6.3 %. Meanwhile, the IMF sees emerging markets and developing economies slowing to 4.0 % growth by 2026.
On domestic policy, Goyal highlighted the impact of the recent GST 2.0 reforms. After the government lowered GST rates around the Diwali holidays, consumer spending surged. “People are shopping more, especially after the GST cuts announced over Diwali,” he said, noting the move as a gift from the Modi government to all Indians.
The IMF’s revised figures leave India as one of the world’s fastest‑growing economies amid a global slowdown, a point the government happily underscores as part of its economic narrative.
Source: ianslive
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
