India, US providing good news to global economy: World bank chief economist

MARRAKECH: World Bank chief economist Indermit Gill on Wednesday said that India and the US were providing good news to the global economy but cautioned against slowing global growth due to high interest rates. “In spite of all the shocks, we haven’t seen any big economy get into trouble,” he said at a press conference.

Last week, the World Bank retained its India growth projection for the current fiscal year at 6.3%. On Tuesday, the International Monetary Fund said the Indian economy is poised to grow 6.3% this year, against 6.1% projected earlier, making it the fastest growing major economy.