India Can overtake China’s and U.
Economyby 2050? 9 facts on the economic rise of India aftera delayed start.
For several decades to come, China will almostcertainly hold its new spot at the top of the global economic table.
However, by 2050, it is possible India’s economy will have edged out not only the UnitedStates but also China, to take the top spot.
A little more than a decade after China launchedits market-based reforms, India jumped into the growth game as well.
India’s economic liberalization policies of 1991 led to an increasing role for theprivate sector and opened the economy to foreign investment.
To realize its potential, India will need to sustain its reform policies and increaseinvestment in infrastructure, education (especially women) and better governance.
However, it is at present only a little over 40% as large as the U.
and Chinese economies.
While India’s growth has not been as strong as China’s over the past two decades, itsgrowth rate is expected to outpace China’s in the coming decades.
As of 2014, India’s $7.
3 trillion economy was the world’s third-largest, measuredin terms of purchasing power parity.
The Indian economy is expected to be about12% larger than the U.
economy by 2050 and above — but about only 3% larger than China’s.
But the prediction may change.
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