International Monetary Fund said Indian economy will expand at a world-beating 7.5% rate in the fiscal year 2019-2020 despite the slowdown in the global economy, while upgrading its October forecast of 7.4%, according to Hindustan Times.
India's economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease.IMF estimates India to grow 7.3% in 2018-19 and 7.7% in 2020-21. India's contribution to world growth has risen from 7.6% during 2000-08 to 14.5% in 2018.
China's growth slowdown could be sharper than expected, especially if trade tensions continue. This can trigger abrupt sell-offs in financial and commodity markets as was the case in 2015-16.
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