New Delhi: International rating agency Moody’s Investors Service has predicted that India will be the fastest growing economy among G-20 countries clocking a 7(point)1 per cent growth in year 2017.
In the report titled ‘Modest Acceleration in the Global Economy, Moody said, Indian economy will be the fastest growing among the G-20 nations, though it slowed down in the fourth quarter of 2016 because of the demonetisation.
Moody also said, the continuing cyclical recovery in global economic activity with growth in G-20 countries picking up modestly to 3 per cent in 2017 and 2018 from 2.6 per cent in 2016.
The rating aganecy also said, that there is a high risk of a significant protectionist shift in US trade policy and could inflict lasting damage to the global economy.
Commenting on Asia, the agency said, China’s economy stabilised around the official growth target of 6.7 per cent in 2016 but will likely continue to decelerate to 6.3 per cent and 6 per cent in 2017 and 2018.