What is the expected future GDP in India?
Predictions for GDP by 2050:
#1 world GDP:
Current world GDP in nominal terms is 78.28 trillion US $ and is predicted to increase by 130% to 180 trillion US $.
#2 world’s top 10 economies by 2050:
China is expected to be at the 1st position in 2050. while India will overtake GDP of United States by 2045 and will eventually overtake China by the year 2080. While the US’s economy will not be able to grow as fast as that of India’s and China’s its share in the world economy will begin to shrink.
#3 world economic share (GDP PPP terms):
#4 United States economy:
The US is currently the world’s largest economy will a GDP of over 19.4 trillion US$
US economy is predicted to grow at an annual average rate of 1.4% by 2050.
Current GDP of the US is at 19.4 trillion US$ and is predicted to be at 34.1 trillion US$ by 2050 (nominal GDP)
#5 economy of China:
The Chinese economy is predicted to grow at an annual average rate of 4 to 5% by 2050 which will make it the world’s largest economy by 2032 (by overtaking the United States) and remain at 1st spot till 2060 at least with a GDP of 58.1 billion $.
China is currently the world’s largest economy in PPP terms having an 18% share of the world economy.
#6 The Indian economy:
Currently, India is ranked 6th with a 2.6 trillion $ economy in terms of nominal GDP and 3rd with a 9.46 trillion $ economy in terms of GDP PPP.
India is growing fast at an average rate of 6.5 to 7 % in the past 10 years, in fact, it is the fastest growing major economy in the world along with China and is expected to grow at this rate of many years to come.
It is expected that India will maintain a steady growth rate of around 5.5% for the next 5 to 6 decades and will overtake the economy of United States by 2045 and will eventually overtake China by 2070 to become world’s largest economy.
India is expected to have a 44 trillion $ economy by 2050 and an 86 trillion $ economy by 2080.