New Delhi, Nov 18 (IANS) India is expected to be the fastest growing economy among the G20 countries with a GDP growth of 7 percent in 2024, followed by Indonesia in second place at 5 percent, while China in third stands with a growth rate of 7 percent. economic growth of 4.8 percent.New Delhi, India is expected to be the fastest growing economy among the G20 countries with a GDP growth of 7 percent in 2024, followed by Indonesia in second place with 5 percent, while China ranks third with economic growth rate of 4.8. percent.
“India is leading the G20 with an impressive GDP growth rate of 7 percent forecast for 2024! This achievement highlights India’s robust economy and demonstrates its resilience and rapid growth amid global challenges,” said a MyGov post at X after the ranking. were released during the ongoing G20 summit in Brazil.
Russia ranks fourth on the list with expected GDP growth of 3.6 percent, followed by summit host Brazil (3 percent) in fifth place.
The African region follows with 3 percent, while the US is in seventh place with an expected GDP growth of 2.8 percent.
Among Western powers, Canada is expected to grow 1.3 percent, followed by Australia at 1.2 percent. France, the EU and the United Kingdom have been placed in the slow growth category of 1.1 percent, while Italy is expected to grow at an even slower pace of 0.7 percent, followed by Japan at 0.3 percent.
Germany is seen as the worst performing among advanced countries with a projected growth rate of zero.
Meanwhile, Prime Minister Narendra Modi was warmly welcomed to Rio de Janeiro, Brazil, for the G20 2024 to be held on November 18 and 19.
The focus of the summit, held amid the ongoing climate crisis and conflict in the Middle East and Europe, is on the fight against hunger, poverty and inequality; sustainable development and global governance reforms. All 19 member states of the G20 – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Saudi Arabia, South Africa, Russia, Turkiye, UK and USA and the European Union – attend the two-day summit.
–IANS
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