Indias contribution to world GDP to reach 17% this yr: PwC

India grew fastest among major economies worldwide at over 7.5 percent in 2016 and will continue to drive global growth in 2017 with its share in the world GDP expected to rise to 17 percent, a study said today.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap Tech Control

Budget 2017

Presented By:

DAYS hours minutes

Co-Presenting Sponsor :

Associate Sponsors :

Co-Presenting Sponsor :

Associate Sponsors :

Home » News » Economy

Jan 13, 2017, 11.45 AM | Source: PTI

India's contribution to world GDP to reach 17% this yr: PwC

India grew fastest among major economies worldwide at over 7.5 percent in 2016 and will continue to drive global growth in 2017 with its share in the world GDP expected to rise to 17 percent, a study said today.

Like this story, share it with millions of investors on M3

Indias contribution to world GDP to reach 17% this yr: PwC

India grew fastest among major economies worldwide at over 7.5 percent in 2016 and will continue to drive global growth in 2017 with its share in the world GDP expected to rise to 17 percent, a study said today.

Post Your Comments

Share Cancel

| 1 Comments
Indias contribution to world GDP to reach 17% this yr: PwC
India grew fastest among major economies worldwide at over 7.5 percent in 2016 and will continue to drive global growth in 2017 with its share in the world GDP expected to rise to 17 percent, 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 (GEW) 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 percent mark, while India's contribution to world GDP growth could reach almost 17 percent 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 percent of GDP. If non-financial debt grows at the same average rate as it has since 2010, China could add over USD 650 billion to its total debt pile by the end of 2017," the study said.

Economists predict that globalisation will take a backseat this year and world trade is expected to see slow growth.

"The resurgence of economic nationalism in some parts of the world means World Trade Organisation (WTO) rules will be put to the test. The world's biggest bilateral trade route (US-China) is likely to come under pressure," it said.

Besides this, the other major global economic themes that could prevail in 2017, are that the US monetary policy is expected to move back towards normalcy and politics would drive uncertainty and economics.

Other key predictions for this year include that the US would drive growth in the G7; Core Eurozone employment to hit all-time high but 'peripheral' economies will create more jobs; while population growth is likely to put pressure on Gulf countries to reform public finances.

Buy, Hold, Sell ? Hear it first on M3
Indias contribution to world GDP to reach 17% this yr: PwC

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login