The International Monetary Fund (IMF) has raised India's growth forecast for FY24 to 6.3% from 6.1% due to stronger-than-expected consumption. Other forecasters have also raised their growth estimates for India. The country is considered one of the growth engines in the world economy. However, the projections do not consider the impact of recent geopolitical developments in West Asia. The IMF has also projected inflation at 5.5%, up from its earlier forecast of 4.6%. The global economy is expected to slow down in the coming years, with widening growth divergences across regions.