Economic Growth: In a study, Harvard’s Center for International Development said,” India would perform well in economic growth at the rate of 7.72 percent during that period.” It said that ,” the economic global growth pole has moved over the past few years to neighboring India from China.”
According to the report,” even Indonesia, Vietnam, Uganda, Mexico and Kenya expected to perform a lot better than other biggest sectors in the World.” Chinese increasing growth rate over the past few years has narrowed the gap between its complexity and its income. Researchers suggest it is affecting development growth of the country.
On adding to this CID, researchers say, “In growth projections, China still has a higher growing place at a rate of 4.4 percent annually for next coming decades, though slowdown relative to current growth, is significant.”
Further, director of CID, Ricardo Hausmann, the professor at Harvard Kenny School said,” on one resource the major oil economies are experiencing the difficulties of their reliance. India, Vietnam, and Indonesia have assembled new capabilities that allow for more complex and more diverse production; it predicts faster growth in next coming years.”
Finally, researchers emphasized there are many investors, policymakers and business leaders who can take to enter more complex production.