India to become the world’s second-largest economy by 2075

India to become the world’s second-largest economy by 2075, surpassing not only Japan and Germany, but the U.S. too, says Goldman Sachs. Currently, India is the world’s fifth-largest economy, behind Germany, Japan, China and the U.S.

Indian Economy Growth

India’s population is 14 billion now which is world’s largest having progressive GDP growth that boosts the labor work force participation. India’s progress lies in innovation and technology, higher capital investment and rising worker productivity

The dependency ratio of any country is measured by the number of dependencies against the total working age population. It is expected that the dependency ratio of India to be lowest among large economies in next 20 years. The low dependency ratio indicates that there are more working age adults who are able to support both youth and elders.

India’s top priority growth relies on the infrastructure services creation and setting manufacturing capacity to spur investments especially in roads and railways. This is the right time for private sector to scale up creating capacity in manufacturing services to generate more jobs and quality labor work force.

India’s trajectory economic progressive growth is seen in the field of Information technology, Business process management and software product innovation and the revenue is expected to reach $245 billion by the end of 2023.

Capital Investment will also play the significant role in India’s growth. With the decrease of dependency ratio, Income rising ways and deeper financial sector development savings rate is likely to increase that make the pool of capital available that drives further investment.

As according to survey report predictions India will become the third largest economy by 2030. India’s GDP growth for first quarter is expanding 6.1% year-on-year. India’s growth rate is @ 7.2% this year and it is expected to expand dramatically in upcoming years.