Thus, the growth projections indicate that in 2024, India will record the highest rate of economic growth among all G20 countries at 7 percent GDP, followed by Indonesia at 5 percent and China in the third position with a relatively lesser rate of 4.8 percent.
"India tops the G20 in 2024 with an excellent 7 percent GDP growth rate! This achievement flaunts the robust nature of India's economy and its fast-growing growth amidst world challenges, a MyGov post on X said after the list was released during the on-going G20 summit in Brazil.
According to it, Russia had ranked fourth on the list with a projected GDP growth rate of 3.6 per cent, followed by summit host, Brazil (3 per cent), in the 5th position.
This is followed by the African region at 3 percent and then US at the 7th position with 2.8 percent projected GDP growth. Among the western powers, Canada is expected to grow at 1.3 percent, followed by Australia at 1.2 percent. France, the EU, and the UK fall in the 1.1 percent slow growth category and Italy is projected at an even slower pace of 0.7 percent, which will be followed by Japan at 0.3 percent.
Among the advanced countries, Germany is the worst, where a zero growth rate is projected. Meanwhile, Prime Minister Narendra Modi reached Rio de Janeiro, Brazil, to a warm welcome for the G20 2024 on November 18 and 19. However, the focus of the summit being held amid the ongoing climate crisis as well as raging conflicts in the Middle East and Europe is on the fight against hunger, poverty, and inequality; sustainable development and global governance reforms.
This two-day summit has been gifted by all 19 member states of the G20, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Saudi Arabia, South Africa, Russia, Turkiye, UK and the USA and the European Union.
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