According to the Centre for Economics and Business Research (CEBR), a global recession will start in 2023.
The report predicts that India’s economy will reach $10 trillion by 2035 and rank third globally by 2032.
Global Recession 2023 Impact on India
Since the US is one of the great superpowers, a mild or deeper recession will eventually have worldwide repercussions.
The crisis ultimately grew and spread into a global economic shock, manifesting itself in a number of European bank failures, drops in several stock indices, and significant falls in the value of the Indian market.
Given that Indian businesses had significant outsourcing agreements with US clients, a slowdown in the US economy was undoubtedly terrible news for India.
Over the years, India’s exports to the US have grown
However, India was impacted and managed to survive the severe financial crisis of September 2008.