India confident of meeting IMF's revised GDP growth rate: minister

NEW DELHI, Oct. 15 (Xinhua) -- The International Monetary Fund (IMF) revised India's gross domestic product (GDP) growth rate from its earlier estimates of 6.4 percent to 6.6 percent for the financial year 2025-2026.

The development was seen as a positive sign in India, in the aftermath of U.S. tariffs which came into effect a few weeks ago.

Reacting to the IMF's improved growth rate forecast for India, the country's Commerce Minister Piyush Goyal said on Wednesday that the upward revision was an indication of India's strengthened economy, driven by increased consumer spending, accelerated investment in infrastructure and a confident business atmosphere.

He added that India's impressive GDP growth rate was due to reduction of direct taxes by the federal government, announced and implemented recently.

"With a 7.8 percent growth in the first quarter (April-June) of the current financial year, India is set not only to meet, but possibly exceed the IMF's estimates of 6.6 percent growth rate," he told the press in New Delhi. Enditem