Amongst the G20 countries, India is projected to be the fastest-growing economy, with a 7% GDP growth in 2024. Following India is Indonesia in the second spot with a 5% GDP growth and China sits at the third place with a growth rate of 4.8%.
The MyGov post on X stated – “India takes the lead in the G20 with an impressive 7% GDP growth rate projected for 2024! This achievement highlights India’s robust economy, showcasing its resilience and fast-paced growth amidst global challenges.” The post was released during the ongoing G20 summit in Brazil.
Russia, which is ranked 4th on the list, has a projected GDP growth of 3.6% that is followed by Brazil, which is the summit host with 3%. The African region is next on the list with a GDP of 3%, while the US is in the 7th position with a GDP growth of 2.8%.
Amongst the Western powers, Canada is expected to grow at 1.3%, followed by Australia at 1.2%. The European Union, France, and the UK have been clubbed in the slow growth category with a 1.1% growth rate. Italy is expected to grow even slower at 0.7%, while Japan lies at 0.3%. The worst performer in the list is Germany amongst the advanced countries, with a growth rate projected to zero.
