[International] India's average annual economic growth of 6.1% over the past 12 years leads the G20
RtiTalk 小編2d ago
India's economic growth has been quite impressive. According to statistics, from 2014 to the present, India's average annual compound growth rate in US dollar terms has reached 6.1%, surpassing China's 5.9% and becoming the leader among the Group of Twenty (G20).
Reports from the International Monetary Fund's (IMF) World Economic Outlook and data from the World Bank show that from 2014 to the present, India has become the fastest-growing economy among the G20 major economies. India ranks first with an average annual compound growth rate of 6.1% in US dollar terms, followed by China at 5.9% and the United States at 5.3%.
Business Today reported that this latest data shows a significant change compared to India's performance between 2004 and 2014. During that period, the average annual compound growth rate in US dollar terms was 10.9%, lagging behind China, Brazil, Russia, Indonesia, Argentina, and Saudi Arabia, ranking seventh.
Between 2014 and 2026, the global COVID-19 pandemic, inflation, supply chain disruptions, geopolitical tensions, and conflicts in various regions have severely impacted trade and investment.
Amidst global challenges, India's economy has more than doubled in size, now approaching US$4.15 trillion (approximately NT$133.83 trillion), with its growth rate leading the G20 countries.
Economic insiders told Business Today that India's infrastructure has expanded significantly during this period, with a substantial increase in power generation and continuous expansion of its road network, successfully connecting various regions and laying a good foundation for logistics and economic activities.
In addition, India has improved its physical and digital infrastructure, expanded manufacturing capacity, and strived to attract investment, enhancing its economic growth performance.
However, some critics argue that the average annual compound growth rate in US dollar terms can be affected by inflation, exchange rate fluctuations, and base effects, and the data may not fully reflect actual economic growth or living standards.
Despite this, while countries worldwide have experienced various upheavals from 2014 to the present, India's economic growth rate has remained stable, highlighting its increasing importance in the global economy. (Editor: Song Wanyuan)
Source Link: https://www.rti.org.tw/news?uid=3&pid=225162
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