International Monetary Fund (IMF) has increased India’s GDP growth forecast for the current fiscal to 6.6%, surpassing its previous estimate of 6.4%. This growth is propelled by strong economic performance, countering the effects of US tariffs on Indian exports. Among the BRICS nations, India is expected to have one of the highest growth rates, with Ethiopia leading at 7.2%. The average growth anticipated for BRICS countries is 3.8%, markedly higher than G7 nations.
BRICS’ growth is projected to be over three times higher than that of the G7. Aging populations, labor shortages, and fiscal challenges contribute to the G7’s weaker growth prospects. Notably, Germany’s GDP growth in 2025 is forecasted to be only 0.2% by the IMF, ranking amongst the slowest globally.
With a growth rate of 7.8% in April-June, India’s economy demonstrated robust momentum prior to the disruptive US trade tariffs. The World Bank raised India’s growth forecast for the fiscal year to 6.5%. India is anticipated to maintain its status as the fastest-growing major economy. In July, the IMF adjusted India’s economic growth forecast to 6.4% for both 2025 and 2026, surpassing previous estimates of 6.2% and 6.3%, respectively, from the April 2025 World Economic Outlook.
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