India may overtake the US as the second-largest Economy by 2075: Goldman Sachs

Did you know that by the year 2075, India may actually overtake the United States and become the world’s largest economy? Let’s explore how this remarkable transformation is possible!Read also this: This week’s potential market drivers for the Sensex and NiftyIndia is likely to become the second-largest economy in the world by 2075 because it has a big pool of talent and a high proportion of people who are working age. With 1.4 billion people, India’s GDP is expected to grow a lot and hit $52.5 trillion, which is just a little more than the US’s projected GDP. This is according to a forecast by Goldman Sachs. According to Santanu Sengupta, India economist for Goldman Sachs Research. In the next two decades, India will have one of the lowest dependency ratios among regional economies. According to him, India has one of the most favourable ratios of individuals of working age to children and the elderly. Sengupta added that this is India’s opportunity to do things cor

By mediology 03:30 PM Jul 10, 2023 IST

Did you know that by the year 2075, India may actually
overtake the United States and become the world’s largest economy? Let’s
explore how this remarkable transformation is possible!

India is likely to become the second-largest economy in the world by
2075 because it has a big pool of talent and a high proportion of people who
are working age.

With 1.4 billion people, India’s GDP is expected to grow a lot and hit
$52.5 trillion, which is just a little more than the US’s projected GDP. This
is according to a forecast by Goldman Sachs.

According to Santanu Sengupta, India economist for Goldman Sachs
Research. In the next two decades, India will have one of the lowest dependency
ratios among regional economies.

According to him, India has one of the most favourable ratios of
individuals of working age to children and the elderly. Sengupta added that
this is India’s opportunity to do things correctly in terms of establishing
manufacturing capacity, expanding services, and expanding infrastructure.

Capital expenditures will also be a major growth driver in the future. Due
to favourable demographics, declining dependency ratios, rising incomes, and
enhanced financial sector development, he stated that India’s savings rate is
likely to increase. This is likely to enhance the available investment capital.

Goldman Sachs concurs that India could expand due to its favourable
prospects. The population of India is changing more slowly and over a lengthier
period of time than the rest of Asia. This is primarily because India’s
mortality and birth rates are declining more slowly than the rest of Asia, he
explained.

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