The US & China economy were said to be falling into recession, with India registering a world-beating GDP growth, however the facts tell a different story.
3 years after COVID (2022), the US GDP has grown to $25.46 trillion, China’s to $18.1 trillion & India’s to $3.39 trillion.
US & China added $4.08 trillion & 3.76 trillion respectively with India managing only $0.55 trillion
The INR also depreciated by about Rs 14, with $1 being Rs. 69 in 2019 to being nearly Rs. 83 in 2023 (about 20%).
In a one-year period (2022-2023), India faced an inflation rate of 7.5% which is second highest among the G20 next to Turkey.
Taking a broader view, over 3 years (2020-2023), India along with Mexico, Germany & South Africa saw a price hike of 18% or more.