According to the report released by the United Nations Trade and Development (UNCTAD), the Indian economy is expected to grow by 6.5 per cent in 2024 as compared to 6.7 percent in 2023.
Global growth projections by UNCTAD:
i.UN Conference on Trade and Development (UNCTAD) report has projected the global economy to grow at 2.6 percent in 2024 from 2.5 percent projected earlier.
ii.The report states that European countries like Germany and Italy are struggling with weak economic activity and facing industrial slowdowns and fiscal crisis, impacting their growth projections.
About the United Nations Trade and Development (UNCTAD):
UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964. It is composed of 195 member states that form a part of the organization.
Headquarters – Geneva, Switzerland
Secretary General– Rebeca Grynspan