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The global and Indian economic landscape as of September 30, 2023, reveals a complex picture of resilience amidst challenges. Global growth is projected to slow from 2.9% in 2023 to 2.7% in 2024, with a slight recovery to 3.0% expected in 2025, according to reports from the OECD, IMF, and others. The United States, while showing stronger-than-expected performance, faces potential risks of recession due to high debt, weak housing markets, and elevated oil prices. The IMF highlights lopsided global growth, which risks exacerbating vulnerabilities in poorer nations, particularly in light of ongoing geopolitical tensions and inflationary pressures. China’s economy is expected to slow further, with growth projected to decline from 5.2% in 2023 to 4.7% in 2024, driven by a deflating real estate bubble and weakening consumer confidence. In contrast, the Euro area may see modest growth improvements, with Germany recovering from a recession. However, uncertainties around interest rate impacts remain. Japan's growth is also anticipated to slow, with a slight rebound forecasted for 2025. The Indian economy stands out with a robust growth projection of 6.3% for FY 2024, supported by strong economic fundamentals. The U.S. economy’s unexpected acceleration in Q2 2023, despite the Federal Reserve’s aggressive rate hikes, suggests resilience, though concerns about sustained growth persist. Overall, while a hard landing appears less likely, the global economic outlook remains cautious, with significant risks and uncertainties continuing to loom.

KEYWORDS: Global Growth, Inflationary Pressures, Lopsided Growth, Recession Risks, Resilient Economy