This is possible because of its continuous robust growth. These days GDP growth has been increased due to investment in infrastructure.
It is mentioned in the report presented by Citi ,"China should overtake the US to become the largest economy in the world by 2020, then be overtaken by India by 2050.
Indian economy is expected to be nearly $ 85.97 trillion on purchasing power parity (PPP) basis by 2050 from $ 3.92 trillion in 2010.
According to the World Bank, , in 2009, Indian economy -- valued at $ 3.78 trillion -- was at the fourth place in terms of PPP. The country was behind the US, China and Japan only.
The report said India's population of working age is expected to grow by 40.7 per cent between 2010 and 2050.
The report added ,India has successfully raised its aggregate savings rate to levels that would allow sustained high levels of domestic capital formation.
This is a wonderful news for all Indians as well as for people related to stock market. India is a growing economy and soon it will be the largest economy in the world. That time India will rule the world. So a great news for all of us. Isn't it?
No comments:
Post a Comment