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UN predicts India’s growth rate in 2023 to be higher than that of China and US

The UN WESP report states that a series of severe and mutually reinforcing shocks, the COVID-19 pandemic, the war in Ukraine and resulting food and energy crises, surging inflation, debt tightening, as well as the climate emergency, have battered the world economy in 2022.

Image - Twitter/@United Nations

India’s economic growth has been projected at 5.8 per cent in 2023 as per the United Nation's World Economic Situation and Prospects 2023 (WESP) report,  which is much higher than China’s (4.8 per cent) and the United States (0.4 per cent).

However, India’s growth will decline in 2023 from the estimated 6.4 per cent in 2022 as higher interest rates and a global economic slowdown will weigh on investment and export performance.

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