India retains the title of fastest growing economy
January 1 , 2019 | Investopaper
Although the ups and downs were observed in the Indian economy this year, the good news for the country is that it has been able to remain at the top spot as the fastest growing economy. Doing so, it stays ahead of powerhouse China which lately has been hit by trade war between US.
The Indian economy was able to resist several uncertainties such as hike in oil prices, global trade war etc in 2018. The first quarter reported the GDP growth rate of 8.2% followed by 7.1% in the next quarter. But the factors like higher financing cost and reduced credit availability is expected to hinder the growth pattern.
Next year, the economy is expected to grow at around 7.8%. The investment cycle has gained momentum and it will be further strengthen by more private investments.
