India will emerge as the second most resilient economy in 2021, as per the International Economic Resilience (IER) Rank, released by industry body, PHD Chamber of Commerce and Industry (PHDCCI). The ranking has been topped by Germany, among the top-10 leading economies. South Korea is at the third position in the list.
Apart from this, India’s real GDP growth rate is projected to be the highest in the year 2021 among the top-10 leading economies in the world, at 11.5%. It reflects India’s strong “economic resurgence” to the global economic turmoil caused by the COVID-19 pandemic.
The ranking is based on analysis of five indicators :
- Real GDP growth rate,
- Merchandise export growth rate,
- Current account balance (as a percentage of GDP),
- General government net lending/borrowing (as a percentage of GDP) and
- Gross debt-to-GDP ratio.