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9h ago

IMF Lifts India’s FY26 Growth Outlook to 6.6% as Goyal Presses Chemical Sector on Exports

Goyal says the upgrade validates resilience built on a 7.8% first quarter, GST relief and infrastructure investment.

A drone view shows a container ship at a port in Zhoushan, Zhejiang province, China October 10, 2025. cnsphoto via REUTERS
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India remains Asia’s bright spot, but must ‘fire all cylinders’ to hit 8% growth: IMF’s Krishna Srinivasan
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Overview

  • The IMF raised its FY26 growth forecast for India to 6.6% from 6.4%, calling out stronger momentum.
  • The World Bank earlier lifted its estimate to 6.5%, keeping India as the fastest-growing major economy in its view.
  • Officials pointed to 7.8% GDP growth in April–June, the highest in five quarters, with consumption aided by GST reductions and capital spending.
  • Goyal urged the chemicals and petrochemicals industry to expand its global footprint and accept limited FTA concessions after pushback over 1–3% import quotas.
  • He pressed for diversified supply chains and said the ministry will deploy timely trade remedies, with external tariff actions cited as a continuing risk.