13 Sep 2022
At a time when the world is dealing with inflation rising, and growth rates faltering, India seems to stand out.
“…no doubt there is a sandstorm blowing in the global economy and we will get impacted if this sandstorm persists, but as and when the sandstorm subsides, the Indian economy will look like just an oasis in the desert,” said Nilesh Shah, the group president and managing director of Kotak Mahindra Mutual Fund.
Between 2008 and 2022, India is the only country which has improved its debt to GDP ratio; this includes countries like the UK, the US, Canada, Germany, France Italy, Brazil, Australia, Mainland China, South Korea, Mexico and Spain*.
Corporate India has reduced its debt by 12% in this period, while retail India has cut its debt by 6%*.
India has also seen its GDP grow, and is now the fifth-largest economy in the world with a 3.5% share in global GDP. In 2014, India was the 10th largest economy in the world, with a 2.6% share in global GDP**.
Among the cities which have office space under construction, Hyderabad, Bengaluru, Delhi NCR, and Chennai are among the top 10^.
India is also home to some of top 10 cities with high GDP growth in 2022. These include Hyderabad, Bengaluru, Delhi, Mumbai, Chennai and Kolkata^^.
In 2021, only Delhi and Bengaluru were among the Indian cities which were a part of the top 10 cities with high GDP growth^^.
*Source: IF, BIS, IMF, National Sources, Data taken from end Q1, 2008 and end Q1, 2022
**Source: IMF WEO, SBI Research; For India, it is FY2023
^^Source: Oxford Economics
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