Inflation in India is projected to decrease to 4.4% in 2024, a drop from 5.6% in 2023, reflecting improved economic conditions.

GlobalData has revised its economic growth forecasts for India upward for 2024 and 2025, increasing them by 0.3 and 0.2 percentage points, respectively.

Despite facing geopolitical uncertainties, analysts like Gayatri Ganpule from GlobalData indicate that India's economy remains resilient, particularly with an anticipated surge in consumption during the festive season.

To maintain economic stability, the Reserve Bank of India has kept the repo rate steady at 6.5% for the tenth consecutive meeting as of October 2024.

Private Final Consumption Expenditure (PFCE) saw a notable increase of 7.4% in the second quarter of 2024, signaling a rebound in private consumption and overall economic resilience.

In the GlobalData Country Risk Index, India is positioned 75th out of 153 nations, classified as a medium-risk country with lower political and infrastructure risks compared to the global average.

Foreign direct investment (FDI) in India surged to $6.9 billion in the second quarter of 2024, driven by significant inflows particularly in the manufacturing, financial services, and energy sectors.

The financial intermediation, real estate, and business activities sectors contributed 22.7% to India's gross value added (GVA) in 2023, with optimistic growth forecasts for these sectors in 2024.

India has set an ambitious goal to achieve $2 trillion in exports by 2030, supported by a current account surplus of $5.7 billion in the first quarter of 2024 and 14 signed free trade agreements.

India's economy demonstrated impressive growth, with a GDP increase of 7.6% in 2023, and projections suggest a continued, albeit slightly slower, growth of 7.0% in 2024 and 6.6% in 2025.

In a significant move to bolster economic ties, Prime Minister Narendra Modi recently engaged with business leaders from Singapore, leading to a commitment of around $60 billion in investments across various sectors in India.

India's robust economic growth is primarily fueled by strong domestic demand, increased rural consumption, and a growing working-age population.

The upcoming 2024-25 budget in India is set to prioritize job creation and strategic tax reforms aimed at attracting foreign investment, including a comprehensive review of the Income-tax Act.