Despite demo & GST; heres good news that awaits Indian economy in 2018
In another piece of good news that awaits India in the new year of 2018, India is clearly set to overtake Britain and France to claim the world’s fifth-largest economy position in dollar terms.
This is according to a report by the Center for Economics and Business Research (CEBR), which showed an upbeat view of the global economy boosted by cheap energy and technology prices.
India’s rise is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years.
Going by the report, India’s growth had been slowed temporarily because of major economic reforms including restrictions on high-value banknotes (demonetisation) and a new national sales tax (GST).
India’s rival in the region China may well overtake the United States to claim world number one position by year 2032.
Russia was another concern as it is vulnerable to low oil prices and too reliant on the energy sector. The country may well fall to 17th place among the world’s largest economies by 2032. >