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‘Fastest Growing Of Big Economies’: Financial Expert Confident Of India’s Growth Story

Chief economics commentator of the Financial Times Martin Wolf on Thursday said India will be the fastest growing of the big economies in the coming 10-20 years

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In no uncertain terms, reposing faith in the Indian economy, the chief economics commentator of the Financial Times, Martin Wolf on Thursday said India will be the fastest growing of the big economies in the coming 10-20 years. He was speaking at one of the panel discussions at the ongoing World Economic Forum (WEF) in Davos. 

"It underlines a view of how quite a long time but obviously I have followed India for a long time since the 70s and it underlines what I think is a very important point is that over the next 10-20 years, it is overwhelmingly certain that India will be the fastest growing of the big economies and its very big," said Wolf. 

‘India, fastest growing of big economies’ 

Wolf, further stressing on the potential of the Indian economy, said that people who haven’t thought about India in terms of the economic growth are missing the point. "So, I think anybody who hasn't in business and in other areas, thought very very seriously about what India will mean is really missing the point about where we are in the world. I think by now most people have got that but I think we have brought this out very very clearly in this payment platform which I know about is an extraordinary thing," Martin Wolf said at the World Economic Forum.

Some other indicators India is set for robust economic growth include World Bank's latest India development update, which said India's real GDP growth is expected to be at 6.9 per cent in FY22-23 in comparison to 8.7 per cent in FY21-22.

The World Bank also revised India’s 2022-23 GDP growth forecast earlier in December following which it will be in the upward 6.9 per cent from the earlier estimate of 6.5 per cent, due to robust economic activities, according to Dhruv Sharma, Senior Economist at the World Bank.

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