A combination of low commodity prices, strong demographics and new leadership in government and the central bank mean India is set to grow by 7-8 percent annually for the next 10 years, according to Anand Shah, chief investment officer of BNP Paribas Investment Partners India. This could see the country become the world's third-biggest economy by around 2030 and the second-largest by 2040.
This year, the IMF forecast that India's growth would near that of China in 2015 and trump it in 2016.
As a net commodities importer, India is vulnerable to an upturn in oil prices. The country brings in around 70 percent of its oil consumption—worth 5.5 percent of its gross domestic product (GDP),
India had "survived" between 2011 and mid-2014 when oil was priced at $100 per barrel, albeit with "some fiscal concerns."
This year, the IMF forecast that India's growth would near that of China in 2015 and trump it in 2016.
As a net commodities importer, India is vulnerable to an upturn in oil prices. The country brings in around 70 percent of its oil consumption—worth 5.5 percent of its gross domestic product (GDP),
India had "survived" between 2011 and mid-2014 when oil was priced at $100 per barrel, albeit with "some fiscal concerns."
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