India is world’s 2nd fastest growing economy
The findings of UN Conference on Trade and Development (UNCTAD) titled The Trade and Development Report 2019 projected India’s growth rate for the current year to slowdown at 6% from last year’s 7.4%. However, the country will still continue to be a top performer, becoming the world’s second fastest growing economy. The report further added that India’s exports that grew by 6.6% in 2017, slowed down to 4.3% last year.
China (with a 6.1% growth rate for 2019) reigns supreme as the world’s second fastest growing economy across the globe according to the Geneva based body. The report also stated that there is a global slowdown with the world growth rate dropping from 3 % in 2018 to a projected 2.3% for this year.