India’s economy is expected to grow by 6.9 percent in 2024, retaining its spot as the fastest-growing major economy, said a report by a United Nations agency, in a revision of its earlier 6.2 percent growth rate projection for the country.

• The UN Department of Economic and Social Affairs, which released the mid-year update to the World Economic Situation and Prospects 2024 report Friday (17 May 2024).
• It added that India, among many other Asia-Pacific countries, is now witnessing a high labour force participation, almost equalling the pre-pandemic levels.
• It has also forecast a global growth rate of 2.7 percent in 2024, faster than the 2.4 percent it had estimated in January this year.