New Delhi, Oct. 14 -- The International Monetary Fund (IMF), in its October update, raised India's 2026-27 GDP growth forecast to 7% from 6.5% earlier. The revision follows India's 7.8% growth in the first quarter of the year, despite disruptions from the West Asia war, strengthening the outlook for the full year.

However, the headline number does not tell the full story. India was not the only country to receive a sizeable growth upgrade. Rupee depreciation has reduced India's projected GDP in current dollar terms compared with the IMF's April forecast, and the country's global GDP ranking has temporarily slipped to sixth, behind the UK. A recovery in the rankings hinges on sustaining nominal growth of over 10% in current dollar terms....