IMF: India's Strong Consumption Fuels Global Economic Momentum

New Delhi, Jan 17 (KNN) The International Monetary Fund (IMF) has said that India remains a major driver of global growth, with its economy showing strong and resilient performance.

IMF spokesperson Julie Kozack, Director of the Communications Department, said India has become a major driver of global growth, supported by strong domestic consumption.

"India is a key growth engine for the world," she stated. Kozack added that the IMF had earlier projected India's 2025–26 fiscal growth at 6.6 percent, mainly reflecting robust consumption trends, reported ANI. However, recent data suggests the economy has outperformed expectations.

"What we have seen since then is that the third-quarter growth in India came out stronger than expected, and we will be upgrading our forecast going forward," she said.

She added that the revised growth estimate would be reflected in the IMF's upcoming World Economic Outlook update, scheduled to be released in the coming days. 

"The bottom line for us in India is that it has been a key driver of global growth, and growth has been quite robust," Kozack said.

The IMF's comments highlight sustained confidence in India's economic fundamentals and signal expectations that the country will continue to rank among the fastest-growing major economies in the upcoming outlook.

(KNN Bureau)