Last quarter's rise in the U.S. gross domestic product, the economy's total output of goods and services, followed two straight quarters of contraction.
While the World Bank has pared its growth estimate for India by 100 basis points to 6.5 per cent, IMF has trimmed it to 6.8 per cent from 7.4 per cent.
While reports are pointing out that Europe is the number one risk in terms of the technical recession, followed by the US, he said India is not a risk and it has so much potential to grow, he said.
An impending global slowdown or even a recession in a few advanced nations as early as the end of 2022 or early next year is likely to make the situation worse.
The apex bank pegged the current fiscal year gross domestic product (GDP) growth at 7%. In India, supply responses in the economy are gaining strength.
The chief minister also listed the steps taken to spur industrial growth and make Tamil Nadu a trillion-dollar economy.
The 8 billionth baby on Earth is about to be born on a planet that is getting hotter. But experts in climate science and population both say the two issues aren't quite as connected as they seem.
"We are going to have to make tough and uncomfortable decisions. But that is just what leadership requires, and I thank you in advance for stepping up during this important time" he added.
Moody's expects growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4 per cent in 2024.
The UN Population Division estimates that the number of humans on Earth will grow to eight billion on November 15, more than three times higher than the 2.5 billion global headcount in 1950.
Energy prices are expected to fall by 11% in 2023 as global growth is likely to slow down, according to a World Bank report.
Growth for the first half of the year was 2.5 per cent over a year earlier, one of the weakest levels in the past three decades.
With consumers’ growing demand for climate action, adopting Environmental, Social and Governance (ESG) measures are important for businesses of all sizes to thrive.
Retail inflation rose to 7.4 per cent in September, up from 7.0 per cent in August.
In particular, MNCs are enthused by the impact of GST, the government's digital push in various spheres, and transparency in taxation, amongst other reforms.
Daniel Leigh, Division Chief of the IMF's Research Department said he expects inflation will be back towards the four per cent mark in 2023-2024.
Flipkart Group maintains its leadership position, while Meesho is the second largest contributor in order volume, according to Redseer.
WTO said that the number of goods shipped between countries is expected to rise 3.5% this year, up from the anticipated 3% increase in its first forecast for the year in April.
The UN report on India's GDP estimate for 2022-23 makes for disturbing news as India's economic growth is expected to decline to a shocking 5.7 per cent from 8.2 per cent, Avijit said.
S&P Economist Vishrut Rana said the rupee may continue to see volatility in the coming days, but India has 'substantial buffer' to withstand foreign fund outflows.