Fortune has made the claim that India is the only BRIC (Brazil, Russia, India, China) country expected to see notable economic growth over the next few years. PwC has predicted that India will be a “star performer” in 2016, achieving 7.7 per cent economic growth and outshining in this area China for a second consecutive year.

As a result, India is expected to remain one of the fastest-growing major economies between now and 2020. Meanwhile, Fortune reports that scandal-ridden Brazil is sinking into its deepest recession in 25 years, Russia is “rusting like a Cold War-era Volga” due to sanctions and the drop in value of energy (its chief export), while China’s “once-unstoppable” economy is now failing spectacularly.

India benefits from some important trends that contribute to its economic success. Its economic growth isn’t reliant on exports and, as a major importer of energy and other commodities, it has benefitted more than most from the sharp drop in energy prices over the past few years.

On the other hand, the country is a long way from becoming an urbanised, industrial power. Almost half of all its jobs are agriculture-based and 170 million of its citizens currently live on less than $1.90 per day.

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