According to the Daily News on May 21 on the website of the Times of India, on May 18, the United Nations has raised India's GDP growth rate from 6.2% to 6.9% in 2024, because of stable public investment and strong private consumption.

The United Nations World Economic Situation and Prospects report also said that although the weak external demand will continue to affect the growth of commodity exports, the export of drugs and chemicals is expected to grow strongly.

India's economy is expected to grow by 6.6% in 2025.

The report predicts that China's GDP will grow by 4.8% in 2024 and 4.5% in the next year; India will become the fastest growing major economy.

Following the rapid growth of 8.4% in the fourth quarter of the 2023-2024 fiscal year of India's economy, many institutions have raised India's economic growth rate in this fiscal year, and the United Nations is the latest to join them. The International Monetary Fund raised India's GDP growth rate to 6.8%, and called it a bright spot in the context of global economic challenges.

The Reserve Bank of India estimates that GDP will grow by 7% from 2024 to 2025; The Indian government forecasts between 7% and 7.5%.

The United Nations reports that several large developing economies (Indonesia, India and Mexico) are benefiting from strong domestic and foreign demand. The report also said that in the context of strong growth and increased labor force participation, India's labor market indicators have also improved. (Compiled by/Zheng Guoyi)