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UNCTAD Raises India Growth Forecast 2023 to 6.6%

Utkarsh Classes Last Updated 18-10-2023
UNCTAD Raises India Growth Forecast 2023  to 6.6% Economy 3 min read

The UN Conference on Trade and Development (UNCTAD) in its latest trade and development report, has revised India’s economic growth forecast for 2023 upward to 6.6% from the earlier projection of 6%. 

  • However, the report also anticipates a slowdown in India’s growth to 6.2% in 2024. Furthermore, the UNCTAD highlights concerns about the global economic outlook, with a deceleration to 2.4% in 2023, followed by a marginal improvement to 2.5% in 2024.

India’s Economic Growth:

UNCTAD revises India’s 2023 economic growth forecast to 6.6%, up from the previous estimate of 6%.

  • Predicts a slight decline in India’s growth to 6.2% for the year 2024.

Global Economic Outlook:

Anticipates a global economic output growth slowdown to 2.4% in 2023.

Expects a modest uptick in global growth to 2.5% in 2024.

  • UNCTAD emphasizes the importance of policy changes and institutional reforms to prevent a lost decade in the global economy.
  • Urges leading central banks and policymakers to adopt a new policy direction to address economic challenges.


UN Conference on Trade and Development (UNCTAD)

UNCTAD was established by the United Nations General Assembly in 1964 as a permanent intergovernmental body.

  • UNCTAD has its headquarters in Geneva, Switzerland, with additional offices in New York and Addis Ababa. 
  • As part of the UN Secretariat, we report to both the UN General Assembly and the Economic and Social Council, but we maintain our own membership, leadership, and budget.
  • Rebeca Grynspan from Costa Rica made history by becoming the first female and Central American to hold the position of UNCTAD's secretary-general, a part of the United Nations Development Group.





Answer: 6.6%

Answer: UN Conference on Trade and Development

Answer: Rebeca Grynspan

Answer: Costa Rica

Answer: 1964

Answer: Geneva, Switzerland
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