As India’s growth falls, amongst the most in the world, India is all set to fall below Bangladesh in terms of the per capita GDP. India will grow smartly next year, as per IMF.
As per the latest World Economic Outlook report of IMF, India’s per capita GDP is set to plunge by 10.5 per cent to $1,877 this fiscal year ending March 31, 2021. This will make India the third poorest country in South Asia after Pakistan and Nepal.
Bangladesh, Bhutan, Sri Lanka and Maldives now have more per capita GDP than India. Bangladesh’s per capita GDP in dollar terms is expected to grow 4 per cent in 2020 to $1,888, overtaking India. Manish Chokhani, Director, Enam Holdings, tweeted, “Today’s special. Both our neighbours marching ahead. We wish them well and hope our achievements meet our own aspirations!”.
Chokhani’s tweet was tagged to business and stock market leaders Samir Arora, Nilesh Shah, Anand Mahindra, Harsh Goenka and Harsh Mariwala. Till five years back, India’s per capita GDP was 40 pc higher than Bangladesh. In the last five years, Bangladesh has grown three times the rate of India, at 9.1 per cent compared to 3.2 per cent for India, a much larger economy.