NEW DELHI: The GDP of India, powered by its 1.4 billion population, is expected to expand dramatically and the country will become the world’s second-largest economy by 2075, a research by Goldman Sachs has found.
The report projects that India’s economy will be worth $52.5 trillion, bigger than US and second only to China. SantanuSen gupta, Goldman Sachs Research’s India economist, has said India’s key to utilise the potential of its growing population is to boost participation within its labour force and training and skilling its talent pool.
“Over the next two decades, the dependency ratio of India will be one of the lowest among regional economies. So that really is the window for India to get it right in terms of setting up manufacturing capacity, continuing to grow services, continuing the growth of infrastructure,” the report quotes MrSengupta has saying.
He also pointed out India’s population has one of the best ratios between its working-age population and its number of children and elderly, according to the report.