India To Recod Highest Growth Among World Economies: American Billionaire Ray Dalio
Date
2/17/2023 10:11:55 AM
(MENAFN- Khaama Press)
Bridgewater founder Ray Dalio. India would have the highest and fastest growth rate among the world economies in the upcoming years, said American billionaire Ray Dalio at the government Summit 2023 in Dubai.
The founder of Bridgewater Associates, Dalio, has claimed that his research on India's development and its status as a neutral country can be instrumental in this regard.
He says,“From the last ten years of study and based on what we see for the country, India will have the biggest and fastest growth rate. This country will see the biggest transformation among the rest of the world's countries.”
This came when many international organizations have predicted that India would be the fastest-growing country among the global economies.
IMF recently reported that India is better off than many global economies. The document stated that India's growth rate is 6.8 % for the current fiscal year, while 6.1 for the following financial year has been estimated.
It also stated that real GDP grew by 8.7 per cent in 2021-2022, a higher economic growth than before the pandemic. The slow economic growth in China, the Russia-Ukraine conflict, the US and China competition and geopolitical contests can be other reasons the Indian economy went through a relatively promising cycle.
Moreover, Klaus Schwab, the founder and executive chairman of the World Economic Forum, has also praised India and the leadership of Prime Minister Narendra Modi amid a global crisis.
Another document by EY stated that India's GDP would reach $26 trillion, and its per capita income would earn $15 000 by 2047, firmly placing it among the developed countries.
Dalio and other optimistic reports on India's economic growth show that the country is better off than many global economies and will have the highest and fastest growth rate among others.
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