India to be world's second largest economy by 2075: Goldman Sachs Research

Tags: Reports

According to the report of Goldman Sachs Research, by the year 2075, India will become the second largest economy in the world after China leaving behind not only Japan and Germany but also America.

An Overview of the news:

• According to the world's important investment bank Goldman Sachs, India has left behind China in terms of population, so its GDP is expected to expand.
• India's current economy: $3.2 trillion
• Presently India's economy ranks in the world: Fifth
• India's economy in the world by 2075: $52.5 trillion (2nd largest)

Currently, the economy of the top countries (in trillions of dollars):

• America: 23.3
• China: 17.7
• Japan: 4.9
• Germany: 4.3
• India: 3.2
• UK: 3.1

Economy of top countries in 2075 (in trillions of dollars):

• China: 57
• India: 52.5
• No. Ra. America: 51.5
• Europe: 30.3
• Japan: 7.5

The main reasons for the reduction of India's dependence on developed countries:

• According to Goldman Sachs Research, India's dependence ratio on the regional economy will be the lowest in the next two decades. Because:
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  • Helping to grow the economy quickly with talent and workforce.
  • Here innovation and increasing labor productivity are quite strong.
  • Capital investment will continue to be an important driver of growth in the future as well.
  • Decreased dependency ratio on other countries.
  • Savings rate expected to rise due to rising incomes and favorable demographics.