India to grow 7.4 percent in FY19, IMF forecasts

IMF headquarters in Washington, D.C.
IMF headquarters in Washington, D.C.

A day earlier of the PM Modi ’ s opening session at World Economic Forum (WEF) in Davos, International Monetary Fund (IMF) said India is forecast to grow 7.4 % in FY19 against 6.7% this year, gaining pace to 7.8 % in FY20.

The IMF announced in its January update of the World Economic Outlook: Brighter Prospects, Optimistic Markets, Challenges Ahead that was released in Davos and Washington.

“Some 120 economies, accounting for three quarters of world GDP, have seen a pickup in growth in year-on-year terms in 2017, the broadest synchronised global growth upsurge since 2010,” the IMF said.

In 2018, China will grow 6.8%, just ahead of India but will slip to 6.6% next year.  The US is forecast to grow 2.7% and 2.5% in 2018 and 2019.