Tuesday October 16, 2018
Home Business India project...

India projected to grow fastest among emerging nations

0
//
46
Republish
Reprint

New Delhi: India is projected to grow at 7.5 percent in 2016 and 2017 fiscal as China slows to 6.3 percent in 2016 and 6.0 percent in 2017, according to the International Monetary Fund(IMF).

The slower pace of China’s growth primarily reflects weaker investment growth as the economy continues to rebalance, the International Monetary Fund said in its January update of the World Economic Outlook (WEO).

India and the rest of emerging Asia are generally projected to continue growing at a robust pace, although with some countries facing strong headwinds from China’s economic rebalancing and global manufacturing weakness.

Growth prospects in parts of Asia have diminished somewhat as a result of the unexpectedly big external spillovers from China’s growth transition, the WEO said.

In contrast, India. A major net commodity importer, continues to grow at the fastest pace among emerging economies.

Growth forecasts for most emerging market and developing economies reveal a slower pick up than previously predicted.

Still, growth is projected to increase from 4 percent in 2015-the lowest rate in the 2008-09 financial crisis to 4.3 and 4.7 percent in 2016 and 2017 respectively.

Global growth, currently estimated at 3.1 percent in 2016 and 3.6 percent in 2017 with growth in advanced economies projected to rise by 0.2 percentage point in 2016 to 2.1 percent and hold steady in 2017.

The pickup in global activity is projected to be more gradual than in the October 2015 WEO, especially in emerging market and developing economies.

In advanced economies, a modest and uneven recovery is expected to continue, with a gradual further narrowing of output gaps.

Risks to the global outlook remain titled to the downside and relate to ongoing adjustments in the global economy: a generalized slowdown in emerging market economies, China’s rebalancing, lower commodity prices, and the gradual exit from extraordinary accommodative monetary conditions in the Unites States.

If these key challenges are not successfully managed, global growth could be derailed, the WEO warned.

In the emerging market and developing economies and, policymakers need to manage vulnerabilities and rebuild resilience against potential shocks while lifting growth and ensuring continued convergence toward advanced income levels , the WEO suggested.(IANS)

Click here for reuse options!
Copyright 2016 NewsGram

Next Story

Actress Alia Bhatt To Be The Face of Nokia Phones in India

The Nokia phones print campaign with the actress went live on October 12 to mark the festive season

0
Alia Bhatt, Wikimedia

Finnish company HMD Global that manufactures and markets Nokia smartphones on Monday roped in Bollywood actress Alia Bhatt as the face of Nokia devices in India.

“We are really excited to have Alia Bhatt as the face of Nokia phones. I am confident that in the coming together of Nokia phones and Alia Bhatt, we will further enhance the excitement around our new launches for our fans,” Ajey Mehta, Vice President and Country Head-India, HMD Global, said in a statement.

The new festive campaign with Bhatt takes an affectionate and light-hearted look at the unique role played by a young person (and her Nokia smartphone) in making Diwali celebrations with her loved ones truly special, the company added.

Alia Bhatt
Alia Bhatt face of Nokia phones in India. Wikimedia Commons

The Nokia phones print campaign with the actress went live on October 12 to mark the festive season.

Also Read- Microsoft Launches ‘Surface Laptop 2’ In China

“The young generation is relied upon by their loved ones for so many things that they do with just a few clicks on their phones — from paying a bill to capturing memories. This insight is at the core of our campaign and helps make Nokia phones relevant for these young consumers,” Mehta added. (IANS)

Next Story