India is about to experience major economic traction along with some of the other Southeast Asian countries. They are apparently going to be very crucial fuellers for economic growth, for the coming years. This was reported by S&P Global Insights.
The region of the Asia-Pacific is considered to be the primary driver for projected economic growth. The prediction also states that such is going to be the condition for the long term as well.
At the APPEC conference, Rajiv Biswas (S&P Global’s Head Economist) said:
When we look over the next decade, we do expect Asia-Pacific to be the fastest growing region of the world economy. A massive expansion on the way in the Indian economy, and also a very favorable outlook in Southeast Asia — where we expect pretty strong growth to continue in some of the economies, notably Indonesia, Philippines, Vietnam, will be among the world’s fastest-growing emerging markets over the decade ahead
The whole region of the Asia-Pacific is expected to get economic growth from 3.3% the previous year to 4.2% this year (2023) – according to the projections of the S&P.
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