According to the PHD Chamber of Commerce and Industry (PHDCCI) International Economic Resilience (IER) India is set to emerge as the 2nd Most Resilience Economy in 2021 among top-10 leading economies showcasing the strong recovery of Indian Economy in the Post COVID-19 era. Germany took the top spot & South Korea took the 3rd spot.
Indicators:
It is based on 5 Macroeconomic indicators such as
- Real GDP growth rate
- Merchandise export growth rate
- Current Account Balance (as percentage of GDP)
- General Government net lending/borrowing (as percentage of GDP)
- Gross Debt-to-GDP ratio
Overall Ranking:
—Real GDP growth rate -India ranked 1st with real GDP growth at 11.5% followed by China and France with their real GDP growth at 8.2% and 6.0% respectively.
—Merchandise Export Growth – India ranked 1st with Merchandise Export Growth at 14.0%, this is followed by Canada and U.S.A. at 9.9% and 9.7% respectively.
—Current Account Balance % of GDP – India ranked 6th Position.Germany topped the Current Account Balance & followed by South Korea and Japan.
—General Govt. net lending / borrowing (% of GDP) – India ranked 8th Position.South Korea topped the General Govt. net lending / borrowing & followed by Germany & Italy.
—Gross Debt to GDP ratio – India ranked at 4th Position. South Korea topped the Gross Debt to GDP ratio it was followed by China & Germany.
Top 3 Ranking:
| Rank | International Economic Resilience (IER) Rank | Real GDP growth Rate | Merchandise Export Growth | Current Account Balance % of GDP | General Govt. net lending / borrowing (% of GDP) | Gross Debt to GDP ratio |
|---|---|---|---|---|---|---|
| 1 | Germany | India | India | Germany | South Korea | South Korea |
| 2 | India | China | Canada | South Korea | Germany | China |
| 3 | South Korea | France | U S A | Japan | Italy | Germany |
The growth promising Sectors for the Indian economy in the new year 2021 include Agri & food processing, Real estate, Infrastructure, Automobiles, Information Technology, E-Commerce, Health, FMCG, Telecom, Over The Top (OTT) Market and Financial Technology (Fintech) industry.
Recent Related News:
i.According to the 12th edition of World Economic League Table 2021 (WELT) released by Centre for Economics & Business Research Ltd (CEBR), India slumped 1 spot to 6th Largest Economy (out of 195 countries) in the world in 2020 from 5th in 2019 due to the impact of COVID19.
About PHDCCI:
President – Sanjay Aggarwal
Headquarters – New Delhi
