India’s Economy in 2024: Key Highlights, Challenges, and Global Shifts

India navigated through economic challenges and global shifts in the year 2024. GDP growth slowed to 5.6% in the initial months, while inflation strained consumption patterns, RBI forecasts 6.6% GDP growth for 2024-25. Key reforms, including skilling initiatives, renewable energy expansion, and tax cuts, aimed to bolster growth. Electronics exports surged, and the IPO market hit record highs. Global events, such as the Middle East conflicts and fluctuating oil prices, influenced India’s economic trajectory. As Donald Trump returned to power in the US, India faced renewed pressure to lower tariffs and compete in shifting global supply chains. 2024 highlighted both the challenges and opportunities shaping India’s economic future.