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India expected to become 'Fastest Growing' major economy from FY22: PHD Chamber
TIWN
India expected to become 'Fastest Growing' major economy from FY22: PHD Chamber
PHOTO : TIWN

New Delhi, Nov 7 (TIWN) India is expected to become the 'Fastest Growing' major economy from FY22, PHD Chamber of Commerce and Industry said on Saturday.

In a recent growth estimate by the International Monetary Fund (IMF), India is projected to become the fastest growing economy among the top 10 major economies in the world economic system from 2021 to 2025.  "The average GDP growth of Indian economy in next five years from 2021 to 2025 will be at 7.8 per cent, highest as compared with top 10 economies including 6.2 per cent of China, 3 per cent of France, 2.9 per cent of United Kingdom, 2.9 per cent of Canada,  2.4 of United States, 2.3 per cent of Germany, 2.3 per cent of Italy, 2.3 per cent of Brazil and 1.4 per cent of Japan," Aggarwal was quoted as saying in a statement.  "The size of the economy will increase from Rs 203 trillion in FY 2019-20 to Rs 331 trillion in FY 2025-26 at current prices, which becomes at around US$ 4.42 trillion considering the exchange rate at 74.9 (average of current fiscal year 2020-21; April-October)."

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