US, China, France, Pakistan…; India to beat all in terms of…, UN report says…
Indian economy: India will continue to remain world’s fastest growing major economy in the immediate future, while other large economies, such as China, United States, European Union (EU), Japan, Germany, among others, are expected to lag behind, according to a United Nations report.
India to remain fastest growing economy
As per the Mid-Year Report on World Economic Situation and Prospects (WESP) released by the UN, the Indian economy is expected to grow by 6.3 percent in the current financial year amid global uncertainties and challenges triggered by US President Donald Trump’s tariff war, that threatens to raise inflation levels globally.
The report highlights that other major economies will move at a slower pace than India, with China expected to grow at 4.6 percent, the United States at 1.6 percent, Japan by 0.7 percent and the EU by 1 percent, while Germany is predicted to witness a negative growth of -01%.
The UN report, which has revised development estimates down by 30 basis points compared to earlier, notes that the global economy is showing signs of slow growth, primarily due to rising trade tensions and policy uncertainties.
Why India continues to grow rapidly?
According to the WESP report, India remains the fastest growing large economy due to high consumption and government expenditure, and said that a strong private consumption, solid public investment, and strong service exports will be the key drivers of economic growth.
The report noted that while crippling Trump tariffs are putting putting pressure on merchandise exports, exempted sectors such as pharmaceuticals, electronics, semiconductors, energy and copper, could limit the economic blow.
As per the report, India’s unemployment level in the job market remains stable due to stable economic conditions, but noted that steps must be taken to tackle this growing issue.
Notably, the WESP has lowered its 2026 forecast by 30 basis points to 6.4 percent, as it took a cautious view on the current global economic conditions, citing rising trade tensions and policy uncertainties.
MoSPI reveals monthly unemployment data for April
Meanwhile, India’s unemployment rate, calculated on a monthly basis for the first time, was recorded at 5.1% in April 2025, as per government data released Thursday. According to a statement, the Ministry of Statistics and Program Implementation (MoSPI), has begun a monthly Periodic Labor Force Survey (PLFS) to monitor the percentage of unemployed individuals in the eligible workforce in real time.
Earlier, the survey was released on a quarterly and annual basis.
As per the latest data from the Current Weekly Status (CWS), the unemployment rate for individuals of all age groups was 5.1% in April 2025, with figures for men being slightly higher (5.2%), compared to the women (5 %). The unemployment rate among people in the 15-29 age group was recorded at 13.8% across the country, with urban areas reporting 17.2%, and 12.3% rural areas.
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