India is the Best Performing Major Economy in the World: Report

Despite massive disruptions in both demand and supply-side factors caused by the COVID-19 pandemic and the Russia-Ukraine conflict, an industry body reported that India has shown the most consistent improvement in macroeconomic performance among the world's top ten economies in a report.

According to data released by the PHD Chamber of Commerce and Industry, India has consistently improved its position in the ranking of International Economic Resilience (IER) of the top ten countries over the last four years.

According to Pradeep Multani, President, PHD Chamber of Commerce and Industry (PHDCCI), India is the only economy among the top ten leading economies that has shown consistent improvement in macroeconomic performance over the last four years due to its effective dynamic policy environment.

According to the industry body PHD Chamber of Commerce and Industry, the rank analysis of International Economic Resilience (IER) for each of the years 2019, 2020, 2021, and 2022 suggests that India's macroeconomic endurance has consistently improved over the last four years as compared to the other leading economies in the world, and India is projected to improve to the IER rank of 2nd for the year 2022.

Germany's International Economic Resilience (IE52) Rank has remained at first among the world's ten leading economies in both the pre-COVID year of 2019 and the post-COVID year of 2022.