First Deputy Managing Director of the International Monetary Fund (IMF) Dr Gita Gopinath has said that India’s growth did much better than expected during the last fiscal year 2023-24 and the country is expected to become the third-largest economy of the world by 2027.

In an interview with a private channel in New Delhi, Gopinath mentioned, that the country needs to create millions of additional jobs in the next 5-6 years.

She said, the IMF expects private consumption to recover and a favourable monsoon to increase harvests.

Gopinath added that from two-wheeler sales to fast-moving consumer goods, the overall consumption is surging in India.  

According to the latest data by the Society of Indian Automobile Manufacturers, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycle stood over 24 lakhs 37 thousand units in the last month.