ADVERTISEMENT
India to be world's largest economy by 2080
India's expected economy is expected to overtake Japan to become the third largest by 2032 and exceed Germany to rank fourth by 2027.
Representative Image / iStock
The Centre for Economics and Business Research (CEBR) recently published a report predicting that India's economy will soar past China and the US to become the "world's largest economic superpower" by the end of this century.
“India is expected to overtake both China and the US after 2080, based on demographic estimates and projections,” the 'World Economic League Table 2024' report stated.
India, emerging as the third and "eventually the largest economic superpower" is anticipated to have a GDP "90 percent larger than China’s and 30 percent larger than that of the US by the end of the century", it added.
In its study, CEBR predicted that India would maintain "robust economic growth," averaging 6.5 percent between 2024 and 2028. As a result, the nation's economy would overtake Japan to become the third largest by 2032 and exceed Germany to rank fourth by 2027.
“Key drivers include India's large and youthful population, a growing middle class, a dynamic entrepreneurial sector, and increasing global economic integration," the report said.
Nevertheless, the CEBR cautioned India, saying that the country must address "poverty reduction, inequality, human capital and infrastructure improvement, and environmental sustainability" among other things. India's next general elections in 2024 will determine the course of the country's politics for the next five years, making it a significant year, according to the report.
It went on to say that the results of the election will have a big impact on India's foreign and domestic policies, as well as its ties with key international powers and its neighbors.
ADVERTISEMENT
ADVERTISEMENT
E Paper
Video
.jpg)
.png)
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login