Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
IMF revises India's GDP growth forecast for FY24 to 6.3 pc.
Oct 12, 2023
The International Monetary Fund has raised India’s growth forecast by 20 basis points to 6.3 per cent FY24 and retained 6.3 per cent for FY25. IMF had predicted retail inflation to be at 5.5 per cent in FY24 before easing to 4.6 per cent in FY25.
'Growth in India is projected to remain strong, at 6.3 per cent in both 2023 (FY24) and 2024 (FY25), with an upward revision of 0.2 percentage point for 2023 (FY24), reflecting stronger-than-expected consumption during April-June,' said IMF in its World Economic Outlook.
In its July WEO, the IMF had projected a growth rate of 6.1 per cent for India for FY24, up 20 basis points from the April forecast on the back of strong domestic investment.
The World Bank too has predicted India’s FY24 growth to be 6.3 per cent, while the Asian Development Bank has projected 6.4 per cent for FY24 and 6.7 per cent for FY25. However, both the finance ministry and the Reserve Bank of India have retained their 6.5 per cent growth estimate for FY24.
IMF has retained its global growth forecast unchanged at 3 per cent for 2023 while paring down the 2024 projection by 10 basis points to 2.9 per cent.
IMF also has projected India’s consumer price-based inflation to be 5.5 in FY24 before easing to 4.6 per cent in FY25. India’s monetary policy projections are consistent with achieving the Reserve Bank of India’s inflation target over the medium term.
IMF finds that global price risks are exacerbated by the proliferation of food export restrictions. 'Food security concerns prompted recent export restrictions in India, the world’s largest rice exporter. Risks to prices are tilted to the upside, stemming mostly from the ramifications of the end of the Black Sea Grain Initiative and uncertain effects of El Niño, possibly exacerbated by the proliferation of food export restrictions,' it said. However, global inflation may decline to 6.9 per cent in 2023 and 5.8 per cent in 2024.
The global lender also expects the country's current account deficit to remain at 1.8 per cent of GDP in FY24 and FY25. The IMF said that after the invasion Russian oil shipments rose to countries, including India. About 35 to 40 per cent of India’s crude oil imports came from Russia during April–June 2023, a stark rise from less than 5 per cent before the war in Ukraine. While India’s oil exports (mostly petroleum products) are small relative to its oil imports (mostly crude oil), India increased its oil exports to the European Union substantially, IMF said.
deccanchronicle.com
Archive