India Stands Tall Amid Slowing Global Growth: Harvard Study

[thesolar65]

MUMBAI: The Indian economy has the potential to be the world's fastest growing economy over the coming decade, surging ahead of its South Asian economic rival China that will continue to see a slowdown, according to a research by Harvard University.

This is in line with the United Nations projections that India will continue to be the fastest growing economy in the world in 2016 and 2017 at about 7.3 per cent and 7.5 per cent respectively.

For the current fiscal, India's GDP is slated to grow at 7-7.5 per cent. “India tops the list for predicted annual growth rate for the coming decade, at 7.0 per cent,” said researchers at the Centre for International Development (CID) at Harvard University.
The CID data predicted that growth in emerging markets will continue to outpace that of advanced economies, though the gap is closing. CID is also bullish on East Africa, with Uganda, Tanzania and Kenya ranking in the top 10, with all predicted to grow at least 5.5 per cent annually. The growth forecast also looks favourably on Southeast Asia, where the Philippines, Malaysia, Indonesia and Vietnam look to drive growth well above global averages.

On the other hand, India far outpaces projections for its northern neighbour and economic rival, China, which the researchers expect to face a continued slowdown to 4.3 per cent growth annually to 2024, the report said.

South Asia and East Africa have the greatest potential for "rapid growth" as oil economies and other commodity-driven economies face the slowest growth outlook, it said.

"India has made important gains in productive capabilities, allowing it to diversify its exports into more complex products, including pharamecuticals, vehicles, even electronics," said Ricardo Hausmann, Professor of the Practice of Economic Development at Harvard Kennedy School and CID director.

He added that these gains in economic complexity have historically translated into higher income.

"China has already realised many of these gains, doubling per capita income in less than a decade. We expect that India's recent gains in complexity, coupled with its ability to continue improving it will drive higher income, positioning India to lead global economic growth over the coming decade," he said.

@Rajaraja Chola @eyeswideshut @danish_vij @Jacob Martin @Nilgiri

 

[thesolar65]

@Stephen Cohen @Kashmiri Pandit @Rangila @nForce @naveen mishra

 

[Stephen Cohen]

We have had TWO consecutive Bad Monsoons which have pushed the
Rural Economy into recession

WIth hopefully a Good monsoon Next year ; our Overall Growth can easily
cross 8 Percent

 

[Indika]

India currently the apple of western economists like china was 20 years ago. If we keep buying more crap and slaving for them then India will always be the good/best guy. What does 8% growth fetch for the common man thats the question that needs to be asked ? job less growth,inflation?

drive higher income,

should produce higher value products not export something designed elsewhere and keep paying royalty for it.

 

[Rajaraja Chola]

I would like to wait before jumping to conclusions. In 2003-04 it was predicted we will be in top 5 world economy by now. But Financial Crises happened and growth of all countries slowed down. Our export is contracting though domestic growth is improving. Its the best time to put the economy back on track with oil prices so low.
We are still behind.

 

[oprih]

Of course india will stand tall thanks to the fudged economic figures. Without the inflation of your economic figures, no one will notice your country.

 

[The BrOkEn HeArT]

This is because of Mr. Modi 56" chest.

 

[ChennaiDude]

Of course india will stand tall thanks to the fudged economic figures. Without the inflation of your economic figures, no one will notice your country.

Kaching!..50 cents!...This is a Harvard study..FYI!...On topic..India has a long way to go.

 

[SrNair]

Dont need to compare a 2.2 trillion$ economy with 11 trillion $ economy .
After a decade around 2024 ,China will have at least 18 -20 trillion $ economy and we have only 5 trillion $ according to current GDP rate .And 4.3 % growth of an 18-20 trillion $ economy is really good.

 

[mirage]

Of course india will stand tall thanks to the fudged economic figures. Without the inflation of your economic figures, no one will notice your country.

are you serious ?

Dont need to compare a 2.2 trillion$ economy with 11 trillion $ economy .
After a decade around 2024 ,China will have at least 18 -20 trillion $ economy and we have only 5 trillion $ according to current GDP rate .And 4.3 % growth of an 18-20 trillion $ economy is really good.

sir , 18 trillion is impossible , but 5 trillion is a cakewalk . the aftermath of stagnation is not the revival in growth but recession , i guess there is stagnation in real economic growth of china ( a lot of money will be pumped in to save yuan now ) and things change very fast these days specially when the subject is artificially propelled export oriented economy . .

 

[Jacob Martin]

Of course india will stand tall thanks to the fudged economic figures. Without the inflation of your economic figures, no one will notice your country.

If you want your anti-India vitriol to be taken seriously then don't keep such a cute Panda profile pic!!!

In the next two quarters, getting key measures such as GST through will set the agenda. Without that, the government's ability to implement policy will come into question. Blaming the opposition will not work for much longer - BJP didn't get elected to blame the Congress but to govern.

But by the end of this term, unless the government is able to reform the business and investment environment, it would have failed. This government was elected not to achieve piecemeal successes such as some quarters of growth, but to leave a lasting legacy by announcing a fundamentally different way of doing business than the lousy UPA.