India shows best prospect: Study

Mumbai, Jan. 22: The country has the best growth prospects among seven large economies of the world, including China and South Korea, a study done by a logistics major said on Monday.

This is due to “strong and sustained increases in both air and ocean freight in and out of the country”, DHL and consultancy firm Accenture said in the first ‘ Global Trade Barometer’ study released on Monday.

“More than any of the world’s largest economies, India’s major industries have displayed levels of resilience and growth that will buoy business confidence in the short to medium turn,” DHL global forwarding and India’s MD George Lawson said.

He said the country’s GDP has doubled since 2008 to over $ 2.44 trillion now and will continue its upward trajectory for the foreseeable future on the back of infrastructure investments.

The study uses AI, big data and predictive analytics to come up with an outlook on future trade and includes seven top trading nations in the world, including the US, UK, China, South Korea, Germany, Japan and

More than any of the world’s largest economies, India’s major industries have displayed levels of resilience and growth that will buoy business confidence in the short to medium turn

— GEORGE LAWSON MD, DHL India

India, which represent 75 per cent of global trade.

It can be noted that the study comes even as the country fixes focuses on domestic manufacturing and some experts expressing doubts if it can emulate China’s on the manufacturing front. The report said both air and ocean freight remain strong in the country, with high demand for commodities and equipment driving growth.