India's GDP will improve to 7.5 percent next fiscal - IMF

Indian economy will expand at a world-beating 7.5 percent rate in the fiscal year 2019-2020 despite the slowdown in the global economy, the International Monetary Fund said while upgrading its October forecast of 7.4 percent, according to Hindustan Times. 

Key points

India's economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease.

IMF estimates India to grow 7.3% in 2018-19 and 7.7% in 2020-21. India's contribution to world growth has risen from 7.6% during 2000-08 to 14.5% in 2018.

China's growth slowdown could be sharper than expected, especially if trade tensions continue. This can trigger abrupt sell-offs in financial and commodity markets as was the case in 2015-16.