GDP growth rate of India: India has once again demonstrated its economic resilience by securing the top position among G20 countries with the highest projected GDP growth rate of 7% for 2024. This remarkable achievement underscores the nation’s strong economic foundation and its ability to navigate global challenges effectively. The rankings, announced during the G20 Summit in Brazil, highlight India’s growing influence on the global stage. With key themes such as sustainable development, poverty eradication, and governance reforms, the summit brings together the world’s largest economies to discuss and address pressing global issues.
Fastest-Growing Economy in G20
India is projected to be the fastest-growing economy among G20 countries in 2024. Its GDP growth rate is estimated at 7%. Indonesia takes the second spot with a growth rate of 5%, while China ranks third with 4.8%.
India’s Economic Strength Praised at G20 Summit
MyGov celebrated India’s achievement on X, stating, “India leads the G20 with an impressive 7% GDP growth rate projected for 2024! This achievement highlights India’s strong and resilient economy, growing rapidly despite global challenges.” These rankings were announced during the G20 Summit held in Brazil.
Russia and Brazil Among the Top Performers
Russia ranks fourth with a growth rate of 3.6%, while Brazil, the summit’s host, secured fifth place with a 3% growth rate. The African region also recorded 3% growth, placing it sixth, while the United States ranks seventh with a 2.8% growth rate.
Slow Growth in Western Countries
Among western nations, Canada is projected to grow at 1.3%, while Australia’s growth rate is expected to be 1.2%. France, the EU, and the United Kingdom are grouped in the slow-growth category with a 1.1% growth rate. Italy is expected to grow at 0.7%, while Japan’s growth rate is predicted to be just 0.3%. Germany is projected to have no growth, making it the weakest performer among advanced economies.
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PM Modi Participates in G20 Summit in Brazil
Prime Minister Narendra Modi participated in the G20 Summit held in Rio de Janeiro, Brazil, on November 18 and 19. During the summit, he supported Brazil’s focus on addressing poverty and hunger.
Focus on Global Issues at G20 2024
This year’s G20 Summit focused on addressing key global issues such as hunger, poverty, and inequality. Sustainable development and global governance reforms were also key themes. All 19 G20 member countries, along with the European Union, attended this two-day summit.
