United Nations, April 17
India’s economy is projected to grow by 6.5 per cent in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive impact on Indian exports.
UN Trade and Development (UNCTAD) in its latest report said India grew by 6.7 per cent in 2023 and is expected to expand by 6.5 per cent in 2024, continuing to be the fastest-growing major economy.
“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 said, adding that these factors will support growth in in 2024.
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