G20 Growth Outlook: 2026

The Group of 20 (G-20) constitutes around 85 per cent of the world output - bringing together the world's largest advanced and emerging economies. Any shift(s) in the growth rates across these economies offer us a glimpse into the broader trajectory of the world economy - which is set for uneven growth in 2026.

There is an important development - the growth momentum is increasingly concentrated across the emerging markets/economies with advanced/developed economies set to grow at slower rates.

With inflation pressures easing and monetary policy easing across the world, growth prospects across these major economies remain stark.

Based on the IMF’s latest World Economic Outlook projections, this chart looks at real GDP growth forecasts for G20 economies in 2026, highlighting where global growth is expected to come from in the year ahead.

Here are the key takeaways from the data:

India is set to be the fastest growing major economy again - assuming the role of a key driver of global growth. Strong macro-fundamentals, robust domestic demand, and structural reforms introduced by the government will sustain growth momentum in 2026.
Indonesia and China are set to remain among the top growth contributors, highlighting Asia's central role in driving global growth in 2026.
Emerging economies like Argentina, Saudi Arabia, and Türkiye are forecast to grow well above the global average, underscoring cyclical recoveries, commodity dynamics, and domestic policy adjustments.
Advanced economies are largely clustered below the global growth average - with subdued outlooks across Europe, Japan, and parts of North America.
The global economy is projected to grow at around 3.1% in 2026, with most incremental growth coming from emerging markets rather than advanced economies.

Note: Real GDP growth forecasts for 2026.

Source: IMF, World Economic Outlook (October 2025).

Access Data: https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD