New Delhi, November 18 (IANS). India’s economy is expected to grow the fastest among G-20 countries in 2024 with a growth rate of 7 percent.
In terms of growth rate among G20 countries, this year after India, Indonesia is at second place with a growth rate of 5 percent and China is at third place with 4.8 percent.
According to a statement from the Government of India posted on Twitter after the rankings were released at the ongoing G-20 summit in Brazil, “India is leading among the G-20 countries with an estimated GDP growth rate of 7 percent. This achievement “highlights India’s strong economy, demonstrating its resilience and rapid growth amid global challenges.”
In GDP growth, Russia is at fourth place with a growth rate of 3.6 percent and Brazil is at fifth place with 3 percent.
At the same time, Africa region is at sixth position with a growth rate of 3 percent and America is at seventh position with a growth rate of 2.8 percent.
In 2024, GDP growth of other western countries like Canada is expected to be 1.3 percent, France, European Union and UK are expected to have GDP growth rate of 1.1 percent. The growth rates of Italy and Japan are expected to be 0.7 percent and 0.3 percent respectively.
Australia’s GDP growth rate this year is estimated at 1.2 percent.
Germany’s performance among developed countries is expected to be the worst at 0 percent.
Meanwhile, Prime Minister Narendra Modi reached Rio de Janeiro, Brazil for the G20 2024 to be held on November 18 and 19, where he was warmly welcomed. Held amid the ongoing climate crisis and conflict in the Middle East and Europe, the summit focuses on the fight against hunger, poverty and inequality, sustainable development and global governance reforms.
All 19 G20 member countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Saudi Arabia, South Africa, Russia, Turkey, Britain and the US and the EU – two. Participating in the one-day summit.
–IANS
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