India’s economy is expected to grow by 6.7 percent in the calendar year 2024, supported by resilient domestic demand, according to a UN report which said higher interest rates and weaker external demand will continue to weigh on investment and exports this year for the country. 

• The World Economic Situation and Prospects as of mid-2023 report released recently said India’s economy, the largest in the South Asian region, is expected to expand by 5.8 percent in 2023 and 6.7 percent in 2024 (calendar year basis), supported by resilient domestic demand.
• However, higher interest rates and weaker external demand will continue to weigh on investment and exports in 2023, it said.