Blitz Bureau
NEW DELHI: Prime Minister Narendra Modi will address the G7 Outreach Session on Tuesday, with India stepping onto the global stage as the fastest-growing major economy.
Latest figures from the International Monetary Fund place India’s projected GDP growth at 6.2% for 2025, well ahead of the G7 nations. The United States follows at 1.8%, Canada at 1.4%, and the United Kingdom at 1.1%. Japan and France are forecasted to grow at 0.6%, while Italy is expected to post 0.4% growth. Germany, facing headwinds, is projected to see zero growth.
India’s industrial sector also shows strong momentum, with a 5.9% growth rate in 2024. In comparison, Canada has seen a 1.2% rise in industrial production, the US 0.9%, the UK 0.7%, France 0.5%, Italy 0.3%, and Japan 0.2%. Germany’s output has contracted by 0.1%.
In the services sector, India continues to outperform. The country’s Services Purchasing Managers Index (PMI) stands at 60.1—well above the expansion threshold of 50 and higher than any G7 member. Among the G7, Italy leads with a PMI of 54.1, followed by France (53.1), the UK and Germany (both at 52.9), the US (51.4), and Canada (51.1). France’s services PMI stands at 50.1, just above stagnation.
Though India is not a permanent member of the G7, its presence at the summit underscores its growing economic and geopolitical influence. The country has been a regular invitee in recent years.
Prime Minister Modi arrived in Canada on Tuesday following a visit to Cyprus. During his stay, he is expected to hold bilateral talks with G7 leaders, including host Prime Minister Mark Carney. Later in the day, he will depart for Croatia.