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PwC predicts better Indian economic growth while Chinese slowdown

According to a recently published report of Price Waterhouse Coopers, India will continue its growth expectedly at 7.7% and will remain a star performer in emerging economies. The predicted growth rate would surpass the Chinese economic growth consequent second year.

The global consulting firm said that India may be the only country to see a healthy economic growth and it can surpass the average growth this year. Among the seven emerging economies (Brazil, Russia, India, Indonesia, Turkey, China and Mexico), India will emerge as a star performer. Russian and Brazilian economy will sink further and China will slow down, it further said.

Further highlights of the PwC report:

  • G7 economies (the US, the UK, Japan, Germany, Italy, France and Canada) are expected to grow at fastest rate since 2010. The US and the UK economies may grow faster than any other in the group.
  • Group of 7 emerging economies is expected to slowdown; however India may witness a healthy growth.
  • The Chinese economy is expected to grow at 6.5% while manufacturing and exports would fall.
  • Policymakers will set the agenda based on geopolitics rather than economics this year, the report said.
  • The migrant crisis, Middle East Conflict and international community’s response and Britain going for public referendum to decide in or out of European Union, will be the major geopolitical issues to dominate the headlines this year.
  • Lastly, good news for business is that commodity prices will remain low for a little long period, the report said.

Source: ET

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