Global growth holds at 3.1 percent despite accumulating shocks
Reserve Bank of India Deputy Governor Poonam Gupta said global growth remains resilient despite accumulating shocks. She cited International Monetary Fund projections of 3.1 percent growth in 2026 and 3.4 percent in 2027.
Resilience below the historical pace
The International Monetary Fund (IMF) projects global growth of 3.1 percent in 2026 and 3.4 percent in 2027 in its October 2026 World Economic Outlook.
The 2026 forecast is 0.1 percentage point above the July projection; the 2027 forecast is unchanged.
Both rates remain below the pre-pandemic average of 3.7 percent for 2000–19 and the 3.5 percent average for 2022–25. Gupta said these projections nevertheless demonstrate continued resilience given the challenges facing the world economy.
Actual growth exceeded the IMF's projections in each of the past three years, even as shocks accumulated and intensified.
Her assessment distinguished the persistence of growth from its slower pace relative to those historical averages.
Four lenses on India's position
Poonam Gupta, Deputy Governor of the Reserve Bank of India, spoke at the Business Standard BFSI Insight Summit in Mumbai on October 28, 2026.
She organized her remarks around growth, inflation, public finances and the financial sector.
At the previous year's summit, she attributed emerging-market resilience, including India's, to sound policy frameworks and adherence to them.
Her stated focus this year was the global outlook, India's position and policy priorities for emerging markets.
Resilience is not acceleration
Gupta's growth assessment combines resilience with a pace below historical averages.
The IMF raised its 2026 projection but left 2027 unchanged.
The supplied excerpt provides no India-specific growth forecast or policy recommendation.