India's economy faced a decline in 2020 as a result of the COVID-19 pandemic. However, since 2021, it has experienced robust growth, largely fueled by increased demand from a growing population.
The International Monetary Fund (IMF) projects that India will overtake Japan and become the world's fourth-largest economy by nominal GDP by 2025.
Meanwhile, the growth rate for April to June decelerated to 6.7 percent, compared to 7.8 percent in the previous quarter. Sources attribute this slowdown primarily to reduced government spending during the general elections.
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