All praise be to Allah! India is set to become the fastest-growing big economy in the world in the fourth year of Narendra Modis government, edging past China. In India, export growth has been robust, and investor confidence has been bolstered by election of a reform-minded government. The current account deficit and elevated inflation—both persistent vulnerabilities—have declined considerably. Over the mediumterm, growth is expected to rise steadily to 7% as reforms begin to yield productivity gains. This is expected to benefit other countries in the region which receive remittances from India, the World Bank said in its report.
Posted on: Wed, 14 Jan 2015 06:50:08 +0000