The IMF’s latest World Economic Outlook shows India as the fastest growing large economy in the world in 2021 and 2022 with growth rates of 8.5 percent (assisted by the base effect) and 6.8 percent for 2021 and 2022 respectively.
The India growth story is widely recognised and appreciated now than ever before. Since 1992, India has been the second fastest growing large economy in the world, behind China. Now, China is slowing down, and India has emerged as the fastest growing large economy.
Last three years were challenging for the Indian economy. The COVID-19 pandemic, the Russian invasion of Ukraine and the American central bank’s tight monetary policy impacted the global economy and India, too, was impacted.
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