India will leave China behind this year in growth rate says World Economic Forum

Nov 04 2018 01:32 PM
India will leave China behind this year in growth rate says World Economic Forum

Indian economy is on the path of development as a result of various reforms. The World Economic Forum (WEF) has said in its latest report that in 2018 India's economy is growing faster than China and this year will leave it behind. The WEF states that the Indian economy will be faster than the GDP rate of China.

The International Monetary Fund (IMF) has said in its World Economic Outlook report that this year, China's GDP will be 6.6 percent while India's growth rate will be 7.3 percent. In 2019, compared to China's 6.2 in the next year, India will grow at 7.4 percent GDP

The main reason for China's economic slowdown is its trade war running with the United States. Due to trade war, China's exports are affected  negatively. China was the world's fastest growing economy in 2017. At the same time, according to the central bank of India, the growth of India's GDP in 2018-19 is expected to be 7.4%

In its latest World Economic Outlook report, the IMF said that in the current year, India will again achieve the status of world's fastest growing economy. This will be 0.7% higher than China. India's economic growth rate was 6.7% in the year 2017. 

 

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