NEW YORK -- The International Monetary Fund on Tuesday raised its economic forecast for India this year amid a modest improvement in the global growth outlook, but said that China's post-pandemic recovery has weakened.
According to the IMF's World Economic Outlook update for July, India remains the world's fastest growing big economy with a 6.1% expansion this year, up 0.2 percentage point from the IMF's April projection. The IMF expects India to account for about a sixth of total global growth this year. The upward revision was in part due to a better-than-expected finish to 2022 from strong domestic investment, said Tuesday's report.
