India's economy faces significant external headwinds, says IMF

Earlier this week, the Washington-based fund lowered India's growth forecast by 0.6 percentage points to 6.8% for the year ending March 2023 -- the biggest downgrade among major economies after the US

India’s economy faces notable risks from global developments, including aggressive central bank actions and the fallout of the prolonged war in Ukraine, according to the International Monetary Fund. 
 

“The headwinds facing India’s economy are significant,” IMF India Mission Chief Nada Choueiri said in an interview to Kathleen Hays and Rishaad Salamat on Bloomberg Television, referring to expectations of more policy tightening, and no end in sight to the war in Ukraine. “These are issues of concerns to us.”

Earlier this week, the Washington-based fund lowered India’s growth forecast by 0.6 percentage points to 6.8% for the year ending March 2023