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Harvard University’s Center for International Development (CID) conducted a study on growth projections is expected to maintain its lead over the coming decade.
Findings of the study
- India is particularly well positioned to continue diversifying into new areas, given the capabilities accumulated to date.
- Export base diversified to include more complex sectors, such as chemicals, vehicles, and certain electronics
- Economies till 2025 with an average annual growth of 7.7 per cent.
- The major oil economies are experiencing the pitfalls of their reliance on one resource whereas India, Indonesia and Vietnam have accumulated new capabilities that allow for more diverse and more complex production.
Other nations
The countries that are expected to be the fastest growing Turkey, Indonesia, Uganda, and Bulgaria are diverse in all political, institutional, geographic and demographic dimensions.
Source : The Hindu
GS III : Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment