New Delhi— Prime Minister Narendra Modi is set to address the G7 Outreach Session on Tuesday, as India cements its position as the fastest-growing major economy in the world—standing out as the only nation projected to surpass 6 percent GDP growth this year.
According to the latest International Monetary Fund (IMF) estimates, India is expected to post a 6.2 percent GDP growth in 2025, far outpacing the G7 nations. The United States is forecast to grow by 1.8 percent, followed by Canada at 1.4 percent and the United Kingdom at 1.1 percent. Japan and France are each projected to register modest growth of 0.6 percent, while Italy is at 0.4 percent. Germany, Europe’s largest economy, is expected to see no growth amid broader global economic headwinds.
India’s industrial production is also showing robust momentum, with a growth rate of 5.9 percent in 2024—well ahead of all G7 members. Canada reported a 1.2 percent increase, followed by the U.S. (0.9 percent), the UK (0.7 percent), France (0.5 percent), Italy (0.3 percent), and Japan (0.2 percent). Germany recorded a 0.1 percent decline.
In the services sector, India continues to lead, with a Purchasing Managers’ Index (PMI) of 60.1, indicating strong expansion. Among G7 countries, Italy has the highest services PMI at 54.1, followed by France (53.1), the UK and Germany (both at 52.9), the U.S. (51.4), and Canada (51.1). France trails with a reading of 50.1—just above the threshold that separates growth from contraction.
Although India is not a formal member of the G7, it has frequently been invited to participate in the summit, reflecting its growing influence in global economic and strategic affairs.
Prime Minister Modi arrived in Canada on Tuesday following his visit to Cyprus. He is expected to hold bilateral meetings with several G7 leaders, including Canadian Prime Minister Mark Carney, the summit host. Modi will depart for Croatia later Tuesday evening. (Source: IANS)
