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And the outlook for short-term growth is also good as according to the IMF, the Indian economy is the bright spot in the global landscape. India also topped the World Bank âs growth outlook for 2015-16 for the first time with the economy having grown 7.3% in 2014-15 and expected to grow 7.5-8.3% in 2015-16.ndia is also the fourth largest start-up hub in the world with over 3,100 technology start-ups in 2014-15 The agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013-14).
However, as Neumann demonstrates in the chart below, this ratio has changed significantly over the last decade. The US share of the world economy in 2000 was 31 per cent while China had a measly 4 per cent. Additionally, emerging Asiaâs combined GDP in US dollar terms is now neck to neck with that of the US. Perhaps more importantly, this growth is forecast to continue in 2015. According to Neumann, Chinaâs contribution to global output at $800bn will be double that of the US next year.