According to HSBC, India and Association of Southeast Asian Nations (ASEAN) economies are projected to achieve 6.5% average per capita GDP growth over 2023-2026. Among these nations, India is projected to achieve the highest per-capita GDP growth at 8.7%, while china is forecasted to achieve the lowest per-capita GDP growth at 3.9%. Strong growth opportunities exist in India and ASEAN economies due to their young populations, growing middle classes, and technological advancements. While several economies are projected to grow fast, others face slower growth due to economic slowdown and global challenges.
India and the Philippines Projected to Have the Highest Growth
India is projected to have the highest average per capita GDP growth rate among Asian countries from 2023 to 2026. As the world’s fifth-largest economy by GDP, India is experiencing a strong 6.5% GDP growth rate. Additionally, India’s GDP per capita is estimated at $2940, which is relatively lower than many Asian countries such as China. However, its average per capita GDP growth rate is projected to be the highest in 2023-2026. India’s fast growth shows its growing importance in the global economy. This growth is supported by its young population, expanding middle class, and advances in digital exports.