Can India replace China as driver of world GDP growth over next 20 years?
China, and not emerging markets, has propelled World GDP in the last 20 years. Now, with the Chinese economy slowing down, will India take its place?
The share of emerging and developing markets—153 of them—in world gross domestic product (GDP) has improved from 42.3% in 1996 to 58.1% in 2016, according to the International Monetary Fund’s latest World Economic Outlook database. (See chart 1—The share of global output has been computed by taking GDP on a purchasing power parity basis).