Reportedly the UN trade agency has projected india's growth rate for the current year to slowdown at 6 per cent from last year's 7.4 per cent, but the country will be the world's second fastest growing economy, lagging by just a tiny fraction behind china.

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The Trade and Development Report 2019 released by the UN Conference on Trade and Development (UNCTAD) in Geneva on Wednesday, maps a global slowdown with the world growth rate dropping from 3 per cent in 2018 to a projected 2.3 for this year. china with a 6.1 per cent growth rate for 2019 reclaims the title of the world's fastest growing economy by being ahead of india by just 0.1 per cent.



The UNCTAD report said that the slowdown in india "continues a decelerating trend which began four years ago". The report noted that "in Asia, the two economies that were among the fastest growing in the world, china and india, are showing signs of a loss of growth momentum".

 


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