'Balance Of Power Changing': Elon Musk After IMF Data Shows India Above US In Global GDP Growth

Billionaire entrepreneur Elon Musk has said the global economic “balance of power is changing” after citing International Monetary Fund (IMF) data showing that India’s contribution to global growth exceeds

that of the United States.

Musk shared a chart based on the IMF’s January 2026 projections highlighting the top contributors to global real GDP growth in 2026.

According to the data, India and China together are expected to drive nearly 43.6 per cent of global growth, with India alone accounting for 17 per cent. In contrast, the United States is projected to contribute 9.9 per cent.

The balance of power is changing https://t.co/mzk1KRHkcg

— Elon Musk (@elonmusk) January 31, 2026

The comments come at a time of heightened global economic uncertainty and renewed trade tensions, including sharp tariff measures announced by US President Donald Trump against several countries, among them China and India.

The projections shared by Musk point to a continued shift in economic momentum towards Asia.

The IMF has projected global growth at 3.3 per cent in 2026 and 3.2 per cent in 2027, marginally higher than its October 2025 forecast.

The improved outlook is attributed to strong investment in technology, continued fiscal and monetary support, accommodative financial conditions and the resilience of the private sector, which together have helped cushion the impact of changing trade policies.

While global inflation is expected to ease, the IMF noted that inflation in the United States may return to target levels at a slower pace.

The report flagged key downside risks, including a potential reassessment of technology-led growth expectations and the possibility of escalating geopolitical tensions.

For India, the IMF revised its growth forecast upward by 0.7 percentage points to 7.3 per cent for 2025, citing stronger-than-anticipated performance in the third quarter and sustained momentum in the fourth quarter.

Growth is expected to moderate to 6.4 per cent in 2026 and 2027 as temporary and cyclical factors wane.

The IMF also observed differing inflation trends across major economies.

While inflation in China is projected to rise gradually from low levels, India’s inflation is expected to move closer to target after a sharp decline in 2025, largely due to softer food prices.