According to a report by the United Nations Conference on Trade and Development (UNCTAD), India’s economy is forecasted to grow by 6.5% in 2024, following a growth rate of 6.7% in 2023. The report highlights that India remains the fastest-growing major economy globally. The growth in 2023 was driven by strong public investment and robust performance in the services sector, fueled by both domestic and external demand. The report also points out the increasing focus of multinational companies on India as a manufacturing base, aiming to diversify their supply chains, which is expected to have a positive impact on Indian exports.
Indian Economy Predicted to Grow 6.5% in 2024, UNCTAD Report Suggests
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