Home BIG Story Here’s When India Will Surpass China As Fastest Growing Economy

Here’s When India Will Surpass China As Fastest Growing Economy

The Economy of India would surpass the economy of China by 0.7% points in 2018 and 1.2 in 2019.

The report forecasted a growth rate of 7.3% for Indian economy in the year 2018 and 7.4% in 2019.

Here’s When India Will Surpass China As Fastest Growing Economy
Here’s When India Will Surpass China As Fastest Growing Economy

According to an IMF’s (International Monetary Fund) latest World Economic Outlook report, Indian economy would surpass Chinese economy by 0.7% points in 2018 and 1.2 in 2019.

The report forecasted a growth rate of 7.3% for Indian economy in the year 2018 and 7.4% in 2019.

If the forecasts come true, then the anticipated probabilities are high for Indian economy to surpass Chinese economy by 0.7 percentage points in 2018 and 1.2 in 2019.

The economy of China was the world’s fastest growing major economy in 2017, when India recorded a 6.7% growth rate.

The long-term growth potential of the Indian economy is optimistic due to its young population, consistent low dependency ratio, healthy savings and Investment rates, and increasing integration into the global economy.

India Topped the World Bank’s growth outlook for the first time in fiscal year 2015–16, during which the economy grew 7.6%.

Regardless of earlier reforms, the growth of Indian economy is still significantly slowed by bureaucracy, poor infrastructure, and inflexible labor laws.