UNCTAD projects 6.5% GDP growth in India by 2024

According to a UN assessment, global corporations expanding their manufacturing operations into India to diversify their supply chains would boost Indian exports and contribute to the country’s 6.5% anticipated GDP growth in 2024.

India continued to be the fastest-growing global economy, rising by 6.7% in 2023 and 6.5% in 2024, according to a recent research from UN Trade and Development (UNCTAD).

“The report added that these factors will support growth in 2024. The expansion in 2023 was driven by strong public investment as well as the robust local demand for consumer services and firm external demand for the country’s business services exports,” the report stated.