According to the data released on Wednesday, India saw a growth of 6.1 per cent between January and March (Q4) while Indonesia, the second to follow, grew 4.8 per cent. Countries like China, Mexico, US and Japan grew by 4.5 per cent, 3.8 per cent, 1.6 per cent and 1.3 per cent respectively
The weakening demand within the country and abroad has hampered India s growth prospects and the country will be losing its fastest-growing major economy tag this year. As per the first official estimate released by the Ministry of Statistics and Programme Implementation, the Gross Domestic Product (GDP) will grow 7 per cent in the fiscal ending March. aaa
Union Finance Minister Nirmala Sitharaman said India has emerged as one of the fastest-growing major economies in the world and is expected to be one of the top three economies globally over the next 10-15 years
The economic curves of India and China depict a picture in contrast as India emerges as the fastest-growing economy globally while China struggles to stay afloat with positive growth.