By 2030, India Set To Overtake Japan as No. 3 Economy
India is one of the most populous countries in the world with a population in excess of 1.2 billion. India’s economy is likely to overtake Japan in 2030 as the world’s third-largest economy. It mentioned that India was seen as “among the most striking” gainers in the bank’s long-term rankings, surpassing Germany and Japan thanks to the economy’s fast growth and a rising working-age population.
The report also emphasised that Beijing poised to push out Washington as they keep the top two positions in 2030 at USD 26 trillion and USD 25.2 trillion respectively. As per the HSBC report, India taking the third spot at USD 5.9 trillion, the news agency mentioned.
It is worth mentioning here that the Indian economy — Asia’s third-largest economy — grew at 8.2 per cent in the first quarter of 2018-19, retaining its crown as the fastest-growing major economy by outperforming China, which grew 6.7 per cent in the same quarter.
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