India, China will contribute more than half of global growth this year: IMF


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India and China will alone contribute more than half of the global economic growth in 2023 as supply-chain disruptions are fading and the service sector continues to grow, the International Monetary Fund (IMF) said on Monday. In a blog post, the IMF stated that the Asia-Pacific region’s economy is set to grow 4.7 per cent in 2023 against 3.8 per cent last year, making it a bright spot in a slowing global economy. While India and China are expected to contribute more than 50 per cent to global growth, the IMF said the rest of Asia will contribute an additional...