Last week, the International Monetary Fund (IMF) punched a hole in India’s economic story when its World Economic Outlook for 2026 said that the country’s ranking had slipped to 6th position from its fourth position earlier, in terms of nominal (as per current market prices) GDP in US dollars.

While India remains one of the fastest-growing economies in the world with a growth rate projected at 6.6 per cent for FY27, there has been enough hand-wringing at home regarding the latest IMF outlook. But the contradiction is more because of exchange-rate movements, dollar-based comparisons, and revisions to India’s own GDP series. While the government has defended itself, claiming that it is less about........

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