India is booming according to IMF
The International Monetary Fund has projected the Indian economy will grow by 9.7 per cent in 2010 and 8.4 per cent in the next fiscal, driven by robust industrial production and macro-economic performance.
Advanced economies, on the other hand, are projected to grow by just 2.7 per cent in 2010 and 2.2 per cent in 2011, the IMF report said, adding that global trade is forecast to expand by 4.8 per cent in 2010 and 4.2 per cent in 2011, with a temporary slowdown during the second half of 2010 and the first half of 2011.
However, neighbouring China is expected to grow at an even faster rate of 10.5 per cent in 2010 and and 9.6 per cent in 2011, driven by domestic demand, the IMF said in its latest World Economic Outlook report.
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