What's new

India's GDP growth of 6.7% to be fastest in world in 2022: UNCTAD

INDIAPOSITIVE

SENIOR MEMBER
Sep 20, 2014
7,782
-8
8,350
Country
India
Location
India
India’s economy is projected to grow at 6.7% in 2022, the fastest in world during the year, followed by China at 5.7%, according to a United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2021.

However, China’s 8.3% GDP growth in 2021 will be more than India’s 7.2% growth in 2021, it added. The global economy will grow at its fastest pace in almost half a century with 5.3% increase.

Global growth is expected to hit 5.3 per cent this year, the fastest in almost half a century, with some countries restoring (or even surpassing) their output level of 2019 by the end of 2021. The global picture beyond 2021, however, remains shrouded in uncertainty.

UNCTAD, however, wanted that next year will see a deceleration in global growth but for how long and by how much will depend on policy decisions, particularly in the leading economies.

“Even assuming no further shocks, a return to the pre-pandemic income trend could, under reasonable assumptions, still take until 2030 – a trend that, it should be remembered, itself reflected the weakest growth rate since the end of the Second World War. This is a worrying prospect for many countries. The damage from the Covid-19 crisis has exceeded that from the global financial crisis (GFC) in most parts of the global economy but has been particularly draining on the developing world. The recent decision by the IMF Executive Board to allow a $650 billion issue of special drawing rights (SDRs), the largest in its history, offers a glimmer of hope but the international community has still to acknowledge the scale of the challenge facing many developing countries,” it added.

After a 3.5 per cent fall in 2020, UNCTAD expects world output to grow 5.3 per cent this year, partially recovering the ground lost in 2020. It further said by 2022, world income will still be 3.7 per cent below its pre-pandemic level of annual global growth rate trend of 3 per cent during 2017-19, sans pandemic.


However, considering the average annual global growth rate of 3 per cent in 2017–2019, world income will still be 3.7 per cent below where its pre-pandemic trend would have put it by 2022. Based on the nominal gross domestic product (GDP) estimates for this year, the expected shortfall represents a cumulative income loss of about USD 10 trillion1 in 2020–21. Looking ahead UNCTAD expects world output to grow 3.6 per cent in 2022,” the UNCTAD report added.


In India, consumer inflation was already at 6 per cent before the pandemic. The Covid-19 shock caused a temporary dip in prices, but as the economy recovered and food prices accelerated, the country returned to a 6 per cent inflation rate in mid-2021.



 

Wood

FULL MEMBER
Mar 30, 2013
752
0
520
Country
India
Location
Canada
India needs to grow close to 10% considering it's lower base and inflation metric. Nevertheless, I should say that it is encouraging that the prediction is not below 5%.

What is the reason for the expected drop in Chinese GDP? Is it because of the regulatory measures in the Chinese tech. sector?
 

lonelyman

SENIOR MEMBER
Feb 19, 2015
3,256
-14
7,032
Country
China
Location
China
India’s economy is projected to grow at 6.7% in 2022, the fastest in world during the year, followed by China at 5.7%, according to a United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2021.

However, China’s 8.3% GDP growth in 2021 will be more than India’s 7.2% growth in 2021, it added. The global economy will grow at its fastest pace in almost half a century with 5.3% increase.

Global growth is expected to hit 5.3 per cent this year, the fastest in almost half a century, with some countries restoring (or even surpassing) their output level of 2019 by the end of 2021. The global picture beyond 2021, however, remains shrouded in uncertainty.

UNCTAD, however, wanted that next year will see a deceleration in global growth but for how long and by how much will depend on policy decisions, particularly in the leading economies.

“Even assuming no further shocks, a return to the pre-pandemic income trend could, under reasonable assumptions, still take until 2030 – a trend that, it should be remembered, itself reflected the weakest growth rate since the end of the Second World War. This is a worrying prospect for many countries. The damage from the Covid-19 crisis has exceeded that from the global financial crisis (GFC) in most parts of the global economy but has been particularly draining on the developing world. The recent decision by the IMF Executive Board to allow a $650 billion issue of special drawing rights (SDRs), the largest in its history, offers a glimmer of hope but the international community has still to acknowledge the scale of the challenge facing many developing countries,” it added.

After a 3.5 per cent fall in 2020, UNCTAD expects world output to grow 5.3 per cent this year, partially recovering the ground lost in 2020. It further said by 2022, world income will still be 3.7 per cent below its pre-pandemic level of annual global growth rate trend of 3 per cent during 2017-19, sans pandemic.


However, considering the average annual global growth rate of 3 per cent in 2017–2019, world income will still be 3.7 per cent below where its pre-pandemic trend would have put it by 2022. Based on the nominal gross domestic product (GDP) estimates for this year, the expected shortfall represents a cumulative income loss of about USD 10 trillion1 in 2020–21. Looking ahead UNCTAD expects world output to grow 3.6 per cent in 2022,” the UNCTAD report added.


In India, consumer inflation was already at 6 per cent before the pandemic. The Covid-19 shock caused a temporary dip in prices, but as the economy recovered and food prices accelerated, the country returned to a 6 per cent inflation rate in mid-2021.



prediction again? didn't world bank predict India 2021 growth to be 12%?
 

Bilal9

ELITE MEMBER
Feb 4, 2014
18,168
1
28,709
Country
Bangladesh
Location
United States
prediction again? didn't world bank predict India 2021 growth to be 12%?
I guess any news that is even halfway positive is some salvation for Modi Bhakts, their leader pretty much ruined Indian economy even prior to Covid. Everyone in India knows this.

You need these BS pieces of fake news (only found in the Indian Godi Media). No other world media cares. These media outlets in India are like bunches of Hanumans or crows, take your pick.

One starts crying about some half-baked piece of positive news, then all of them start repeating it like crows and hanumans. In unison....

Then lies become truths over incessant cawing - there you go.



You know now how Godi media in India works....
 
Last edited:

Pak Nationalist

FULL MEMBER
Jul 4, 2021
439
2
551
Country
Pakistan
Location
United States
India’s economy is projected to grow at 6.7% in 2022, the fastest in world during the year, followed by China at 5.7%, according to a United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2021.

However, China’s 8.3% GDP growth in 2021 will be more than India’s 7.2% growth in 2021, it added. The global economy will grow at its fastest pace in almost half a century with 5.3% increase.

Global growth is expected to hit 5.3 per cent this year, the fastest in almost half a century, with some countries restoring (or even surpassing) their output level of 2019 by the end of 2021. The global picture beyond 2021, however, remains shrouded in uncertainty.

UNCTAD, however, wanted that next year will see a deceleration in global growth but for how long and by how much will depend on policy decisions, particularly in the leading economies.

“Even assuming no further shocks, a return to the pre-pandemic income trend could, under reasonable assumptions, still take until 2030 – a trend that, it should be remembered, itself reflected the weakest growth rate since the end of the Second World War. This is a worrying prospect for many countries. The damage from the Covid-19 crisis has exceeded that from the global financial crisis (GFC) in most parts of the global economy but has been particularly draining on the developing world. The recent decision by the IMF Executive Board to allow a $650 billion issue of special drawing rights (SDRs), the largest in its history, offers a glimmer of hope but the international community has still to acknowledge the scale of the challenge facing many developing countries,” it added.

After a 3.5 per cent fall in 2020, UNCTAD expects world output to grow 5.3 per cent this year, partially recovering the ground lost in 2020. It further said by 2022, world income will still be 3.7 per cent below its pre-pandemic level of annual global growth rate trend of 3 per cent during 2017-19, sans pandemic.


However, considering the average annual global growth rate of 3 per cent in 2017–2019, world income will still be 3.7 per cent below where its pre-pandemic trend would have put it by 2022. Based on the nominal gross domestic product (GDP) estimates for this year, the expected shortfall represents a cumulative income loss of about USD 10 trillion1 in 2020–21. Looking ahead UNCTAD expects world output to grow 3.6 per cent in 2022,” the UNCTAD report added.


In India, consumer inflation was already at 6 per cent before the pandemic. The Covid-19 shock caused a temporary dip in prices, but as the economy recovered and food prices accelerated, the country returned to a 6 per cent inflation rate in mid-2021.



IMF was projecting 12% growth in 2021, and we saw what happened. These projections are very misleading in the fluid situation that is part and parcel of pandemics.
 

Bilal9

ELITE MEMBER
Feb 4, 2014
18,168
1
28,709
Country
Bangladesh
Location
United States
India needs to grow close to 10% considering it's lower base and inflation metric. Nevertheless, I should say that it is encouraging that the prediction is not below 5%.

What is the reason for the expected drop in Chinese GDP? Is it because of the regulatory measures in the Chinese tech. sector?
UNCTAD itself says in its reports (as do other financial orgs) that Indian economy contracted a minimum of 7% last fiscal. How can it gain over 5% positive this fiscal? Even my five year old nephew knows the difference....
 

Indos

PDF THINK TANK: ANALYST
Jul 25, 2013
13,295
22
17,176
Country
Indonesia
Location
Indonesia
India will likely not able to reach 3 trillion USD in this 2021 with that projection of 7.2 percent growth for 2021 since last year India has 7 % negative nominal GDP growth and its 2019 nominal GDP number is 2.89 trillion USD, unless Indian Rupee get significant appreciation.


Please some one correct this number ..........

 

Akatosh

BANNED
Apr 26, 2021
340
-1
851
Country
India
Location
India
prediction again? didn't world bank predict India 2021 growth to be 12%?
They were quite close .
Given that India achieved 20.8% growth in 1st quarter it means India will easily acheive 10% growth this year
India will likely not able to reach 3 trillion USD in this 2021 with that projection of 7.2 percent growth for 2021 since last year India has 7 % negative nominal GDP growth and its 2019 nominal GDP number is 2.89 trillion USD, unless Indian Rupee get significant appreciation.


Please some one correct this number ..........

IMF is more authoritative and reliable source and they have confirmed India will be 3 trillion.
Fact that India grows almost 21% during the quarter which saw Covid mega-wave show show massive Indian economic gowth has become.
India will likely not able to reach 3 trillion USD in this 2021 with that projection of 7.2 percent growth for 2021 since last year India has 7 % negative nominal GDP growth and its 2019 nominal GDP number is 2.89 trillion USD, unless Indian Rupee get significant appreciation.


Please some one correct this number ..........

IMF is more authoritative and reliable source and they have confirmed India will be 3 trillion.
Fact that India grows almost 21% during the quarter which saw Covid mega-wave show show massive Indian economic gowth has become.
 

Indos

PDF THINK TANK: ANALYST
Jul 25, 2013
13,295
22
17,176
Country
Indonesia
Location
Indonesia
They were quite close .
Given that India achieved 20.8% growth in 1st quarter it means India will easily acheive 10% growth this year

IMF is more authoritative and reliable source and they have confirmed India will be 3 trillion.
Fact that India grows almost 21% during the quarter which saw Covid mega-wave show show massive Indian economic gowth has become.

IMF is more authoritative and reliable source and they have confirmed India will be 3 trillion.
Fact that India grows almost 21% during the quarter which saw Covid mega-wave show show massive Indian economic gowth has become.
IMF Prediction is made in April 2021, before second wave of India Covid surge

Where is the link saying India grow 21 % during Covid Second Wave ?

For what I know India did achieve 21 % growth in 1st Quarter, before India Second Wave Covid started
 

chinasun

FULL MEMBER
Feb 24, 2021
166
-20
257
Country
China
Location
United States
To be a developed country, you have to be able to make chips. Cars, machines, and all technology products need chips. Russia doesn't have a chip. So it didn't become a developed country.
Without chip manufacturing, $10000 per capita would be the upper limit for all industrial countries.
 
Last edited:

Bilal9

ELITE MEMBER
Feb 4, 2014
18,168
1
28,709
Country
Bangladesh
Location
United States
Another prediction like India superpower 2020
At this point Indian cawing (like Crows/Kauas) for "Sooper, Massive" growth has become like white noise to me.

When asked for proof and reasoning, Bhakts can't show jack. Just empty claims. :lol:

It's like women in the household trying to talk to you at dinnertime about what this or that bhabi (sister) said on the phone (or posted on Facebook) and you have too many important things going on in your head to listen to this incessant blabbering. You just nod with "a-ha's", have your fill and get out...

In one ear - out the other....

IMF Prediction is made in April 2021, before second wave of India Covid surge

Where is the link saying India grow 21 % during Covid Second Wave ?

For what I know India did achieve 21 % growth in 1st Quarter, before India Second Wave Covid started
Don't ask him for proof, he will at best supply some Modi-it-cell fake news. :-)

All meant to prop up Modi with the kool-aid Bhakt Indians so willingly consume...

Pointless exercise...
 
Last edited:

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Top Bottom