India with a projected GDP of 7.0 per cent in 2026, will be the world's third-largest economy by 2030 and a key player, in powering the shift of AsiaPacific's growth engine from China to South and Southeast Asia, the S&P Global Ratings said on Tuesday. It expects India GDP at 6.4 per cent in 2024 and the country's ability to unlock the 'immense opportunity' and become the next big global manufacturing hub as a major test for the country's leap into the position of the third largest economy globally by 2030
The forecast in 2026 for Vietnam is 6.8 per cent from expected 4.9 per cent in 2023, for Philippines, 6.4 per cent from expected 5.4 per cent in 2023 and for Indonesia steady at about 5 per cent.
This story is from the December 06, 2023 edition of The Business Guardian.
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This story is from the December 06, 2023 edition of The Business Guardian.
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