India Economic Superpower: By the end of this century, India will become the world's largest economic superpower. India's GDP will be 90 percent larger than China's GDP and 30 percent larger than America's GDP. Center for Economics and Business Research has said these things in its latest World Economic League Table Report.
According to this report quoted by Business Standard, the Center for Economics and Business Research said that from 2024 to 2028, India will achieve continuous economic growth at an average rate of 6.5 percent, after which by 2032, India will become the world's largest economy, leaving behind Japan and Germany. Will be the third largest economy. According to CEBR, due to its demographic estimates and projections, after 2080, India will become the world's largest economic superpower, leaving behind China and America.
According to CEBR, India's large and young population, rapidly growing middle class, dynamic entrepreneurship and increasing global economic integration will contribute significantly to accelerating economic growth. The study said that India will have to find solutions to environmental challenges along with poverty reduction, inequality, human capital, infrastructure development.
Earlier in July 2023, global investment bank Goldman Sachs had said that India could become the world's second largest economy by 2075. It has been said in the report that the Indian economy will take a huge leap and leave the economies of Japan and Germany far behind. But it will surpass the American economy and India's economy will be the second largest after China.
Goldman Sachs has said in its report that by 2075, China will be the world's largest economy with $57 trillion, while India will be at second place with $52.5 trillion. The US economy will be the third largest economy with a size of $51.5 trillion.
Also read
Get more latest business news updates