New Delhi, May 8 (KNN) India is projected to lead the world, even overtaking China in growth rate. According to a Harvard study, India will grow at an average annual rate of 7.9 per cent over the next 8 years, the highest in the world.
 
The Center for International Development (CID) at Harvard University in its report said “after decades spent trailing the growth of its northern neighbour and economic rival, India now tops the projections of annual growth rates to 2023”.
 
India is projected to record average annual growth rates of 7.9 per cent over the next eight years, nearly double of China’s 4.6 per cent projected growth over the period.
 
Relative to China’s 9.1 per cent annual growth of the past quarter century, this growth projection presents an important slowdown for China, but stands just below the 6 per cent growth rate in 2020 predicted by the IMF and China’s leadership, the report said.
 
CID researchers paint a new picture of the economic growth landscape, which foresees growth in emerging markets to continue to outpace developed countries. The projections also favour Pakistan’s potential, at 5.1 percent predicted growth, presenting a clear picture of South Asia and East Africa’s positive growth outlook. (KNN/DB)