Brief
IMF upgrades India’s growth outlook to 7% for FY27 and FY28
The IMF’s October 2026 World Economic Outlook projects 7% growth for India in both FY27 and FY28, prompting praise from Gita Gopinath and India’s commerce minister.
By Felo News Desk · Published
The International Monetary Fund’s October 2026 World Economic Outlook projects India’s gross domestic product to expand by 7% in both fiscal years 2027 and 2028, according to the Fund’s release on Tuesday.
What happened
The IMF raised its forecast for India to 7% growth for FY27 and FY28, while also projecting global growth to slow from 3.5% in 2025 to 3.1% in 2026 before rebounding to 3.4% in 2027. The report warned of heightened inflation, geopolitical tensions and fiscal pressures worldwide.
What the reports add
India.com noted that former IMF Deputy Managing Director Gita Gopinath highlighted the "sizeable upgrades to growth" for both India and Germany in a post on X. The outlet also reported that Gopinath congratulated IMF Economic Counsellor Silvana Tenreyro on her first World Economic Outlook launch.
What was said
Gita Gopinath wrote on X, "Latest World Economic Outlook from @IMFNews describes a world that is so far resilient yet precariously poised. Germany and India get sizable upgrades to growth." She also praised Tenreyro, saying, "Congratulations to @STenreyroIMF and team on her first WEO launch." Union Commerce and Industry Minister Piyush Goyal responded on X, "UNSTOPPABLE INDIA! IMF has projected a 7% GDP growth for 2027 for Bharat, making us among the fastest growing major economies. Our multiple FTAs under PM @NarendraModi ji are also expected to positively contribute to global economic activity and build resilient supply chains."
How it came about
The upgraded outlook follows the IMF’s earlier projection of 3.1% global growth for 2026, detailed in Felo’s coverage of the World Economic Outlook on 13 October 2026. The Fund’s broader warning about fragile resilience, energy shocks and AI‑driven risks provides the context for India’s strong performance amid global uncertainty.
Key facts
- The IMF projects India’s GDP to grow 7% in FY27 and FY28. (india.com)
- Global growth is forecast to slow to 3.1% in 2026 before rising to 3.4% in 2027. (india.com)
- Gita Gopinath praised the IMF’s upgrades for India and Germany on X. (india.com)
- Commerce Minister Piyush Goyal welcomed the 7% forecast on X. (india.com)
Sources
- [1] india.com — originally reported as “Gita Gopinath lauds IMF’s 'sizeable' upgrades to India’s growth, notes Germany too”
