India stands out
JulkaisusarjaBank of Finland. Bulletin
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201604181099
Global economic growth has been resting on the performance of the BRICS countries (Brazil, Russia, India, China and South Africa), but now these countries are facing headwinds. China's economic growth is slowing down, Brazil's and Russia's economies are contracting, and growth in South Africa is sluggish. Within this group, India's economy of 1.3 billion people stands out to its advantage. India's economic growth is strengthening and, according to forecasts by the International Monetary Fund (IMF), stood at 7.3% in 2015. IMF projects India’s growth rate to accelerate further and to reach levels close to 8% by the end of the decade, which underpins India's position as the world's fastest-growing large economy.