With an estimated GDP growth rate of 7% in 2024, India is expected to have the fastest-growing economy among the G20 nations. Indonesia will come in second with 5%, while China will come in third with 4.8%.
“With an astounding 7% GDP growth rate predicted for 2024, India leads the G20! A MyGov post on X following the rankings’ announcement at the recent G20 conference in Brazil stated, “This achievement highlights India’s robust economy, showcasing its resilience and fast-paced growth amidst global challenges.” Russia is ranked fourth on the list with a predicted GDP growth rate of 3.6%. Summit host Brazil comes in second with a 3.6% growth rate.
Canada and Australia are predicted to grow at the fastest rates among the western powers, 1.3% and 1.2%, respectively. Italy is predicted to develop at a slower rate of 0.7%, followed by Japan at 0.3%. France, the EU, and the UK have been placed in the category of modest growth, with 1.1%.
With a predicted zero growth rate, Germany is regarded as the least successful developed nations. On November 18 and 19, Prime Minister Narendra Modi landed in Rio de Janeiro, Brazil, to a resounding reception for the G20 2024.
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