Frank Bienewald | Lightrocket | Getty ImagesSINGAPORE — India's stellar economic trajectory alongside strong forecasts for some Southeast Asian countries will be important drivers for global growth, said S&P Global Insights.
Asia-Pacific is a "key driver" for global economic growth not just in the near term, but over the longer run as well, S&P Global's Asia-Pacific chief economist Rajiv Biswas said at the annual energy APPEC conference.
India's very robust actually… the momentum in the economy looks really quite strong at the moment.
Rajiv Biswas Global Asia-Pacific Chief Economist at S&P GlobalAs a region, Asia-Pacific's growth is expected to strengthen from 3.3% last year to 4.2% this year, according to S&P's projections.
"Over the next decade, we expect that about 55% of the total increase in [the] world's GDP will come from the Asia-Pacific region," he said.
Persons:
Frank Bienewald, Rajiv Biswas, Biswas
Organizations:
Lightrocket, Getty, SINGAPORE, Southeast Asia —, Rajiv Biswas Global, Pacific
Locations:
India, Asia, Pacific, Indonesia, Philippines, Vietnam, Southeast Asia, Rajiv Biswas Global Asia, China