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India likely to overtake US to be world’s second largest economy by 2030

India likely to overtake US to be world’s second largest economy by 2030 thumbnail

As per the economists, India is projected to accelerate to 7.8 percent by the 2020s while China’s will moderate to 5 percent by 2030 reflecting a natural slowdown given the economy’s size.

India likely to overtake US to be world's second largest economy by 2030: Report
As per the economists, India is projected to accelerate to 7.8 per cent by the 2020s. (File)

India is likely to overtake the United States and become the world’s second-largest economy by 2030, a British financial services firm has predicted.

According to Standard Chartered Plc, China will assume the top spot by dislodging the US, which will fall to third on the list behind the two Asian giants.

Indonesia is predicted to vault into the fourth slot while Turkey will round out the top five.

India likely to overtake US to be world's second largest economy by 2030: Report
(Source: Bloomberg)

“Our long-term growth forecasts are underpinned by one key principle: countries’ share of world GDP should eventually converge with their share of the world’s population, driven by the convergence of per-capita GDP between advanced and emerging economies,” Standard Chartered economists led by David Mann wrote in a note.

As per the economists, India is projected to accelerate to 7.8 per cent by the 2020s while China’s will moderate to 5 per cent by 2030 reflecting a natural slowdown given the economy’s size.

The firm also predicted that the new global order will see current emerging markets occupy seven of the top 10 spots.

Among other findings by the economists of Standard Chartered, it was found that in the emerging markets, the waning reform momentum weighs on productivity growth; with a majority of the world’s population entering the middle-class income group by 2020, it is at a tipping point; the effects of the rapid population aging trend of China and many economies will be countered by the middle-class driven by urbanization and education.

India Express



161 Comments on "India likely to overtake US to be world’s second largest economy by 2030"

  1. juanp mental update on Wed, 16th Jan 2019 7:56 am 

    JuanP on Thu, 30th Jun 2016 4:56 pm
    I think I could use my antisocial, psychopathic, sociopathic skills to convince people to vote for Trump. I can be very convincing when I want and I am excellent at manipulating people.
    JuanP on Sun, 30th Aug 2015 5:40 am
    …then you simply have a higher opinion of humans than I do. But what can I do? I am after all an admitted antisocial misanthrope. I just think most people suck!
    JuanP on Fri, 12th Aug 2016 10:58 am
    I stopped caring about humanity’s future a long time ago once I realized it was a waste of my time and energy. Now I think that it would be best for life on Earth if we ceased to exist as a species.
    JuanP on Wed, 14th Sep 2016 9:59 pm
    I struggle with the fact that I belong to the same species; I find myself emotionally and intellectually incapable of accepting the fact. That is why I consider myself a sui generis individual rather than a human animal.
    JuanP on Sun, 26th Jun 2016 12:22 am
    As far as I am concerned human beings are a bunch of arrogant and retarded ignorant fools and they deserve what’s coming. Call me selfish if you want, I don’t give a fuck!
    JuanP on Fri, 15th May 2015 11:21 am
    I did therapy for over a decade and most of it was a waste, but I had one therapist for a year who understood my issues and that helped, though I am still thoroughly screwed up.
    JuanP on Tue, 22nd Dec 2015 6:57 am
    They make me smile and happy and give me a brief respite from my cronic and acute depression.
    JuanP on Sun, 17th Aug 2014 8:19 pm
    I have suffered from cronic and acute clinical depression for most of my life, but I wouldn’t have it any other way.
    JuanP on Mon, 23rd May 2016 8:53 am
    I was just telling my wife yesterday that I would very willingly give my arms, legs, tongue, eyes, ears, nuts, and dick to experience life like normal people do for just one hour to know what it feels like. I have been a seriously depressed realist since I have a memory. My first memory of my life is of leaning against a tree alone in my kindergarten’s playground looking at all the other kids playing, thinking how stupid their behavior was, and wondering why I wasn’t like them. I basically don’t interact with normal people anymore. They have nothing to offer me and I don’t want to give them anything.

  2. deport dirty juanpee on Wed, 16th Jan 2019 7:57 am 

    deport the bastard

  3. JuanP on Wed, 16th Jan 2019 7:58 am 

    Even a broken clock shows the right tme every 12 hours, but the Exceptionalist has been wrongly predicting China’s collapse for a very long time and seems completely incapable of learning from his mistakes. That is American delusional exceptionalism at its best. From the USA to the rest of the world. The funniest shit is that the fool thinks he knows what he is talking about! ROFLMFAO! I missed your delusions, Davy!

  4. JuanP on Wed, 16th Jan 2019 7:59 am 

    I know China is failing and the US will be the last man standing but I can’t stand the thought of it. If it happens I may off myself

  5. JuanP on Wed, 16th Jan 2019 8:00 am 

    Boney Juan, may gay lover says chill but I can’t

  6. JuanP on Wed, 16th Jan 2019 8:00 am 

    I hate myself

  7. JuanP on Wed, 16th Jan 2019 8:06 am 

    I am back in the land of the fee and the home of the slaves! ROFLMFAO!

  8. JuanP on Wed, 16th Jan 2019 8:06 am 

    “Russia’s future looks bleak without economic and political reform”
    “It managed to escape a deep crisis after oil prices plummeted – but prospects don’t look as promising as they did five years ago Petrorubles … If the world continues to move toward a low-carbon future, Russia will confront an inevitable choice, with or without western sanctions. When the Russian president, Vladimir Putin, meets his US counterpart, Donald Trump, at this week’s G20 summit in Hamburg, he will not be doing so from a position of economic strength. To be sure, despite the steep drop in oil prices that began three years ago, Russia has managed to escape a deep financial crisis. But while the economy is enjoying a modest rebound after two years of deep recession, the future no longer seems as promising as its leadership thought just five years ago. Barring serious economic and political reform, that bodes ill for Putin’s ability to realise his strategic ambitions for Russia. Back in 2012, when Putin appeared onstage with the Nobel laureate economist Paul Krugman at a Moscow bank conference, Russia’s 1998 economic crisis seemed a distant memory. With oil prices well over $100 a barrel, the government’s coffers were bursting. So Putin could proudly contrast Russia’s government budget surplus with the large recession-driven deficits across the west. He surely delighted in having Russian audiences hear Krugman’s view that western democracies had come up badly short in handling the global financial crisis. In a different session, Russian academic economist Sergei Guriev (who later had to flee the country) argued there was no hope for diversification of Russia’s resource-based economy as long as institutions such as courts were so weak. Too many key decisions rested with one man. Speaking in the same session, I emphasised that without fundamental reforms, a sharp drop in global energy prices would create profound problems.”

    https://www.theguardian.com/business/2017/jul/05/there-is-little-reason-to-be-cheerful-about-russias-growth-prospects

  9. JuanP on Wed, 16th Jan 2019 8:07 am 

    I think that my coming back has sent Davy on another psychotic break! ROFLMFAO!

  10. JuanP on Wed, 16th Jan 2019 8:09 am 

    “Russia as a Failed State – Baltic Defence College”
    http://www.bdcol.ee/files/docs/bdreview/bdr-2004-12-sec3-art3.pdf

  11. Cloggie on Wed, 16th Jan 2019 9:12 am 

    More signs that hard brexit is coming up.

    Macron: “good luck with your Brexit”

    https://www.apnews.com/c0c122f94c664415a0116c6a458ec8c8

    Merkel rules out renegotiation:

    https://www.reuters.com/article/us-britain-eu-germany-merkel-committee/merkel-open-to-clarifying-britain-eu-future-ties-text-meeting-participants-idUSKCN1PA1JN

    German chief economist: enterpreneurs, prepare for no-deal, because it is coming:

    http://www.spiegel.de/wirtschaft/soziales/brexit-iw-chef-michael-huether-loest-die-notfallplaene-aus-a-1248319.html

    Chief negotiator Barnier said that some sort of renegotiation would be possible, provided Britain would be open to drop May’s red lines and engage in a “more close relationship”, but the withdrawal agreement again can’t be changed. Unlikely to happen.

    https://www.reuters.com/article/us-britain-eu-barnier/eu-open-to-closer-ties-with-britain-but-no-renegotiation-of-withdrawal-deal-idUSKCN1PA0U9

    There is no way that the EU is going to tinker with the existing “agreement” in the light of the crushing defeat, yesterday. Money is not an issue, Ernst & Young predict that a staggering 800 billion worth of UK assets will transfer from Britain to the continent or 100 years worth of British net contribution.

    The only realistic way out would be a last minute acceptance of the Barnier-Raab deal, but British stubbornness would in all likelihood stand in the way of doing that. Brexit is not about economic common sense but instead of identity and defiance of “the Huns” at the continent.

    /BigShrug

    Britain was never with it’s heart in Europe. Instead we should concentrate on those countries/demographic groups who DO want to part of European civilization: Russia, Ukraine, Belorus and a growing number of US-alt-righters.

    Perhaps a realistic route would be: first a little bit of drama result from a no-deal, after a few months reality will set in and perhaps some sort of Norway-deal can be negotiated. Perhaps not. Whatever. No deal is now default and the most likely outcome for at least 2019. Let’s have it.

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