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India’s Superstar GDP Growth Rate

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Editor’s Remarks:
Prime Minister Narendra Modi’s shock demonetisation might scrub 1% off India’s growth rate next year, but the country will still enjoy sturdy advances over the next four years. China, its main competitor in Asia, is forecast to tumble to and plateau at 6% over the same period, which might see India become the new target for international investors in the region. China has recently overtaken the US as the world’s largest economy in terms of PPP but struggles to relax its regulatory environment and welcome international investors and companies. At this point, India, with its democratic organisation and population of some 1.2 billion people, could be a dream destination for Western companies, but for its high poverty rate. Japan, Asia’s second economy and the world’s third, has experienced a significant slowdown and is predicted to see a growth rate of under 1% by 2018. If India’s growth continues at this pace and is paired with some astute fiscal moves by the country’s central bank and government, the country could offer a real challenge to the region’s other heavyweights, China and Japan, who are facing headwinds.

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