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With an estimated GDP growth rate of 7% in 2024, India is expected to have the fastest-growing economy among the G20 nations. Indonesia will come in second with 5%, while China will come in third with 4.8%.

“With an astounding 7% GDP growth rate predicted for 2024, India leads the G20! A MyGov post on X following the rankings’ announcement at the recent G20 conference in Brazil stated, “This achievement highlights India’s robust economy, showcasing its resilience and fast-paced growth amidst global challenges.” Russia is ranked fourth on the list with a predicted GDP growth rate of 3.6%. Summit host Brazil comes in second with a 3.6% growth rate.

Canada and Australia are predicted to grow at the fastest rates among the western powers, 1.3% and 1.2%, respectively. Italy is predicted to develop at a slower rate of 0.7%, followed by Japan at 0.3%. France, the EU, and the UK have been placed in the category of modest growth, with 1.1%.

With a predicted zero growth rate, Germany is regarded as the least successful of the developed nations. On November 18 and 19, Prime Minister Narendra Modi landed in Rio de Janeiro, Brazil, to a resounding reception for the G20 2024.

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