India remains the fastest-growing large economy in the world and the growth is projected to reach 6.2 per cent in 2024, says the World Economic Situation and Prospects 2024
UN forecasts slow global economic growth of 2.4% in 2024 due to escalating conflicts, sluggish trade, high-interest rates, and climate disasters. The report warns of prolonged credit tightness and higher borrowing costs, posing challenges for world economies, especially in developing countries. Despite averted recession fears in 2023, the UN remains cautious amid global volatility and inflation risks.