IMF Hails India as Global Growth Engine, Hints at Upgraded Forecast

• The International Monetary Fund (IMF) has praised India's economic performance, calling it a key engine for global growth.
• IMF spokesperson Julie Kozack indicated that the fund is considering raising India's growth forecast for the fiscal year 2025-26.
• India's economy performed better than expected in the third quarter, driven by strong domestic consumption.
• The IMF's previous growth rate estimate for India for 2025-26 was 6.6 percent.
• India's foreign exchange reserves increased to $687.19 billion by January 9, 2025, according to RBI data.

Why It Matters: IMF recognizes India's strong economic growth and its crucial role as a global engine, hinting at an upgraded forecast.