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Fastest growing economies for coming decade
May 10 , 2018
2262 days
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- According to the latest report by Harvard University, India tops the list of the fastest growing economies in the world for the coming decade and is projected to grow at 7.9 per cent annually, ahead of even China and the United States.
- While China is projected to grow at 4.9 per cent annually to 2026, the United States is expected to grow at 3 per cent and France at 3.5 per cent.
- The researchers also found that India ranks the best on the criteria termed as the Complexity Opportunity Index (COI), which measures how easy it is to redeploy existing knowledge to enter new complex products.
- Uganda comes second on the list of the fastest-growing economies to 2026, predicted to grow at 7.5 per cent annually.
- In sub-Saharan Africa, growth is expected to shift eastward from commodity-driven West Africa to East Africa, with Uganda, Tanzania (4th), and Kenya (10th) in the top 10 predicted fastest growing countries globally for the coming decade.
- On the other hand, the study revealed that many low-income countries, including Bangladesh, Venezuela and Angola have failed to diversify their capabilities and face low growth prospects in the coming decade.
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