India tops major economies with 7% growth projection for 2024 under PM Modi’s leadership

India is projected to have the strongest growth among major economies under PM Modi's leadership. With a forecasted 7.0% in 2024, 6.5% in 2025, India is maintaining its position as a global growth leader. Alongside Brazil, India stands out as one of the key emerging market economies showing robust growth in the IMF's forecast. Meanwhile, China's economic growth is slowing, with forecasts of 4.8% for 2024, 4.5% for 2025. Global growth is projected to remain at 3.2% in 2024, 2025, lower than pre-pandemic trends. The US economy remains a major driver of global growth, with strong consumer spending, which could benefit Indian export to the US. Escalating war in the Middle East, Ukraine pose risks of rising oil prices, which could strain India’s pocket. Tight monetary policies in major economies, including the US, Europe, could weigh on India’s economic prospects.

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