Date: 28/09/2022

India’s GDP seen growing at 6.9 pc in FY’23: OECD 

Despite the global economy losing momentum in the wake of the Russia-Ukraine conflict, India’s GDP is estimated to grow at 6.9 per cent for the current financial year, said the Organisation for Economic Cooperation and Development (OECD) in its latest Interim Economic Outlook. Softer external demand is a factor in India’s projected slowdown from 8.7 per cent annual growth in FY 2021-22 to around 7 per cent in FY 2022-23 and around 5¾ per cent in FY 2023-24, but this still represents rapid growth in the context of a weak global economy, it added. The outlook projects global growth at a modest 3 per cent this year before slowing further to just 2.2 per cent in 2023, as per a report.
Source: Exim News Service: Paris, Sept. 27