According to Reuters Breakingviews: On current projections, India will produce about 7 percent of global growth in 2016 while the United States and China will together be responsible for about 45 percent of GDP expansion. Put another way, India’s growth rate would need to rise by about 3 percentage points in order to add 0.1 percentage point to next year’s expected global growth rate of 3.3 percent. China could have the same impact with a 1 point increase in the pace of expansion. For the United States, an extra half point would suffice.
With Europe stuck in the doldrums and Japan struggling to recover, the world economy still depends heavily on its two largest growth engines, both of which are sputtering. A severe slowdown in China or a stalled recovery in the United States would be felt around the world. By comparison, India’s economic performance, no matter how impressive, will barely register. Roland Francis Toronto
