India to widen lead in GDP growth with China
According to estimates by the Paris-based think-tank Organization for Economic Cooperation & Development (OECD), India’s GDP growth lead over China is expected to increase in the coming years. Despite the cooling of China’s economy in the face of the US-China trade war and its global repercussions, India’s growth is projected at 7.25% in 2019 and 7.5% in 2020. The anticipated growth estimate for China in 2020 is 6%.
“India has the fastest growth among G20 economies… accommodative monetary policy and additional fiscal support will boost economic growth despite subdued demand from partner countries,” the report stated. Robust domestic demand, a fall in oil prices, the appreciation of Indian rupee & supportive fiscal stimulus could give a strong boost to the Indian economy.