India outperforms US, China and Russia in post-Covid era, Harvard economist reveals

The Indian economy has demonstrated unparalleled resilience, with sharp recovery and sustained growth following the COVID-19 pandemic, which shook the global markets. India retained the title of the fastest-growing major economy after the pandemic, leaving behind Advanced economies like the United States, Britain and Asian giants like China and Russia to do a lot of catching up, charts and data shared by Harvard Economist Jason Furman showed.

The chart illustrates that while major world economies are still struggling with pandemic aftershocks, India staged a sharp recovery, maintaining momentum in its market.

Furman, in his social media post on X, shared the comparative growth chart of Real GDP relative to the Trend of Major markets, including the United States, China, the eurozone, Russia and India.

The data shows India's steady rise, reaching an estimated GDP growth of +5 per cent mid 2025, making it the only major economy continuing upward trends. The chart further shows that India started its post-pandemic recovery from a low point in 2025, crossed its pre-pandemic trendline by 2022. By 2024, its growth climbed to + 3 per cent, with estimates predicting +5 per cent by the third quarter of 2025.

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Furman stressed that New Delhi's growth is not a one-time phenomenon, but it's a reflection of its structural strength. He attributed digital infrastructure, investment reforms and a stable macroeconomic environment as the main pillars pushing domestic consumption and investment. Providing India with resilience to keep its growth amid a turbulent global economic environment.

Major global economies continue to struggle

The post-pandemic scenario is a different story; the US was able to reach a growth rate of around 2 per cent, China is still facing issues resulting from its Zero Covid policy and real estate crisis, with its growth forecasted at 4.8 per cent for 2025, and India, on the other hand, surpassed both the markets with a rapid growth.

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Global rating agencies continue to remain confident in India's growth momentum. The Investment Information and Credit Rating Agency (ICRA) estimates India’s GDP growth to touch 7% per cent in the second quarter of FY 2026, following a 7.8% expansion in the first quarter.

GVA projects 7.1%, while Moody’s predicts 7% GDP growth for 2025 and 6.4% for 2026.