India’s perch on top as the world’s fastest growing major economy is unlikely to be challenged soon.
Even as the Chinese economy cools due to global trade tensions, India’s GDP growth will hover near 7.5 per cent by 2020, compared with 7.25 per cent in 2019, says a recent report by the Organization for Economic Cooperation and Development.
The Paris-based think tank expects China’s economy to clock six per cent growth in 2020. As a result of the escalating US-China trade war, the economic output in both countries is estimated to be 0.2-0.3 per cent lower in the current financial year than it would otherwise have been. Hence, the Indian economy’s lead over China, in terms of growth, is widening.