India set to grow at high rate till 2021, says Vice-President
New Delhi: India would continue to grow at a higher economic growth rate until 2021, Vice President M Venkaiah Naidu said Wednesday while citing the World Bank estimates. While growth rates of developed economies and the entire world are expected to taper off, World Bank estimates suggest India would continue to grow at a high rate until 2021, Naidu said.
"India ... (in) 2019 (will grow at) 7.3 per cent, 7.5 per cent in 2020 and 7.5 per cent in 2021. That says that you (India) would move on. This is what experts have written today on World Bank estimates. So, there are opportunities," Naidu said while addressing the inaugural session of GRIDTECH 2019.
He pointed out that India has a demographic dividend as 65 per cent of the population is below 35 years of age. The worldwide average economic growth rate will be 2.9 per cent in 2019 and 2.8 per cent in 2020 as well as 2021, according to the estimate released by the World Bank, Naidu mentioned.
For China, the growth rate would be 6.2 per cent in 2019 as well as in 2020 and 6 per cent in 2021, he said.