On January 17, 2023, former RBI governor Raghuram Rajan stated that it is premature to assume that India will overtake China as a factor in driving global economic growth.
However, given that India already has the fifth-largest economy in the world, is expanding, and has the capacity to continue doing so, the scenario may alter in the future.
Rajan stated that any recovery in the Chinese economy would unquestionably improve the prospects for global growth at a press event for the World Economic Forum (WEF) on the recently issued Chief Economists Outlook, which showed that the majority of them anticipate a global recession in 2023.
This news was written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.
ALL INDIA LEGAL FORUM 