India to be fastest growing economy over 10 years

According to Harvard researchers at Centre for International Development (CID), India with a projected annual growth rate of seven per cent, has the potential to be the world’s fastest growing economy over the coming decade, surging ahead of it’s South Asian economic rival, China that will continue to see a slowdown. 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 South East Asia, where the Philippines, Malaysia, Indonesia and Vietnam look to drive growth well above global averages. The US is expected to grow at 2.8 per cent annually to 2024. The United Nations has also predicted that India will continue to be the fastest growing economy in the world in 2016 and 2017, projected to grow by 7.3 per cent next year and 7.5 per cent the year after.

PTI