The global economy, it said, was expected to grow by 2.4% in 2015, followed by 2.9% in 2016 and 2.8% in 2017.
India is expected to grow at 7.8% in 2015, surpassing China's growth rate, and further accelerate to 8% and 8.1% in subsequent years, global rating agency Fitch said on Tuesday.
Among the BRICS grouping, GDP growth will range from 7.8% in India to a contraction of 3% in Russia and 1.5% in Brazil this year, said the Global Economic Outlook released by the Fitch Ratings.
As regards China, the report said the growth rate "is in a gradual structural slowdown and our unchanged growth forecast is 6.8% in 2015, 6.5% in 2016 and 6% in 2017".
"India's GDP growth will surpass China's this year for the first time since 1999, and accelerate to 8% in 2016 and 8.1% in 2017. Recovery from the recession in Russia and Brazil will be weak, with growth rates of only 1.5% by 2017," the report said.
The global economy, it said, was expected to grow by 2.4% in 2015, followed by 2.9% in 2016 and 2.8% in 2017.
The pick-up in 2016, it added, "reflects a recovery from recession in Brazil and Russia, albeit a weak one; while the structural slowdown in China is weighing on global growth potential."
As regards the major advanced economies, Fitch said the growth rate was likely to improve from an expected 1.8% in 2015 to 2% in 2016 and 1.8% in 2017.
However, it added, that the Greek crisis poses a risk to economic recovery.
"Our baseline forecast is for eurozone GDP growth to strengthen from 0.9% in 2014 to around 1.6% in 2015-2017, but the risk of a Greece exit from the eurozone has intensified following the breakdown in talks between Greece and its creditors and the announcement of a referendum on the bailout proposals, to be held on July 5," the report said.
It added that this "poses a risk to economic recovery. A weaker exchange rate, low oil prices, strengthening confidence, quantitative easing and improved credit conditions support growth".
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