Written by Enrico D’Ambrogio,
India has recently overtaken China as the world’s fastest growing economy. The country has benefited from falling oil prices and from an increase in foreign direct investment, due to Prime Minister Narendra Modi’s policies, with the most visible tools branded schemes such as ‘Make in India’. However, perceptions of real growth and other indicators point to a less optimistic framework, while Modi is struggling against opposition in the Parliament to deliver major reforms on labour laws, taxation and land acquisition.
India, the fastest growing economy
India’s economy – Figures and perceptions
India, the world’s tenth-largest economy by nominal GDP (gross domestic product), and third largest in purchasing power parity (PPP), has recently overtaken China as the fastest-growing economy. According to the International Monetary Fund’s January 2016 World Economic Outlook (WEO), New Delhi had already caught up with Beijing in 2014 (7.3% growth in both countries). By…
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