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India to emerge as 2nd most Resilient Economy in 2021, Germany tops the list: PHDCCI IER Rankings

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India to emerge as most resilient economy afterAccording 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