5 Fastest Growing Countries in Asia

3. India

2023 Projected Real GDP Growth Rate According to IMF: 6.1%

India is expected to continue to be a growth engine for Asia this year as the IMF expects the country’s economy to expand by 6.1% in 2023. India has a young population that could generate a demographic dividend for the next few decades that could help the country’s economic growth rate. Given increasing urbanization, India also has the potential to increase its GDP per capita significantly in the next few decades. Given its growth potential, India’s nominal GDP could expand by an average of 6.3% through 2030 according to the S&P’s estimates, and its economy could potentially double from current levels by 2031 according to Morgan Stanley.