India’s GDP fastest this year in G-20, estimated at 7% rate

New Delhi| The Indian economy could grow at 7 per cent this year amid worldwide economic uncertainty and tension. This growth rate will be the fastest in the group of 20 countries, that is, the G-20. During this period, the growth rate of big countries may remain below three percent.

According to the data, India’s fastest growth rate will be achieved due to its strong economy. Even amidst global challenges, the Indian economy has continued to perform better. Indonesia’s GDP will grow at the fastest rate after India, or five percent, in the G-20. After that, China’s economy could grow at 4.8 percent. Argentina is the only country whose GDP growth rate is expected to fall by 3.5 per cent.

If Russia’s GDP grows at the rate of 3.6 percent, then the GDP of Brazil, Africa and Turkey can grow at the rate of three percent each. The US economy is expected to grow at 2.8 percent and Korea at 2.5 percent. The economies of Mexico and Saudi Arabia could grow at 1.5-1.5 per cent. The growth rates of the European Union and South Africa are expected to be 1.1-1.1 per cent.

Rating agency Moody’s believes India could grow at 6.6 percent next year. In 2026, the rate is expected to be 6.5 percent.
Estimated at 7.2 per cent in the current year. The agency says the Indian economy is in good shape with a mix of solid growth and moderate inflation.

Canada’s GDP could grow at 1.3 percent and Australia’s at 1.2 percent this year, the report said. This year, the growth rate has been affected due to tension and inflation across the world. Because of this, central banks started the process of increasing rates for a long time. However, it is now estimated that rates may be cut from next year. Some countries including America have recently started cutting interest rates.