PwC studies shows India’s contribution to world GDP to reach 17% this year
India grew fastest among major economies worldwide at over 7.5 per cent in 2016 and will continue to drive global growth in 2017 with its share in the world GDP expected to rise to 17 per cent, a study said today.
“Asia will remain the fastest growing region of the world, but the spotlight will shift away from China to India and Indonesia,” PwC’s global economy watch said, adding that Indonesia is set to become the world’s 16th trillion dollar economy.
As per the projections Chinese growth to remain at around the 6 per cent mark, while India’s contribution to world GDP growth could reach almost 17 per cent this year. The study noted that China will feel the costs of higher private sector debt burden.
“China’s non-financial sector debt stands at more than 250 per cent of GDP. I...