A new report published, in which shows India’s future growth in economic and financial aspects as per the current pace.
By the year 2028, India will emerge as the third largest economy by overtaking Japan in nominal GDP. The report revealing the growth of India also states that country has already overtaken Brazil and Russia to emerge as the second largest BRIC economy after China.
If keeping this pace on track, it will cross France and Britain to emerge as the world’s fifth largest economy after Germany by 2019. The American brokerage has conservatively projected the country’s real GDP growth at 7 percent potential.
The report observed that unproductive population in the 0-14 and over-65 age group is slated to fall to 46.2 percent in 2028 from 52.2 percent now and 71.7 percent in 1990. This should sustain the savings rate at 32 percent of GDP.
Post Your Comments