The International Monetary Fund expects India to increase its contribution to global growth over the next five years as the economy continues to grow fairly rapidly.  

• India will likely account for 18 per cent of world growth by 2028, up from 16per cent currently, Krishna Srinivasan, director of the Asia and Pacific Department of IMF, told reporters in Mumbai on Thursday.
• India’s faster growth compared with China’s economic slowdown could see the South Asian nation make a bigger contribution to global growth than its larger rival — only temporarily — the latest IMF figures show. 
• However, in terms of the size of their economies, China remains dominant. Based on the latest estimates from the IMF, China’s nominal gross domestic product will increase to $23.61 trillion by 2028, while India’s will reach $5.94 trillion.
• China and India will jointly contribute about half of world growth in both 2023 and 2024, IMF figures show.