India likely to overtake Japan to become World’s third-largest economy by 2030

According to the latest S&P PMI data, India could become the world’s third-largest economy by 2030. According to the data, India can overtake Japan to become the world’s third-largest economy. According to S&P Global Market Intelligence, India’s strong economic growth in 2021 and 2022 may continue in calendar year 2023. Read the full story.

PTI, New Delhi: According to the latest PMI data by S&P Global Market Intelligence, India could become the world’s third-largest economy by 2030.

According to S&P Global, with a GDP of USD 7.3 trillion by 2030, India is expected to overtake Japan to become the world’s third-largest economy.

India’s GDP continues to grow

According to data from S&P Global Market Intelligence, after India’s rapid economic growth from 2021 to 2022, the Indian economy continues to show strength in the calendar year 2023.

India’s gross domestic product (GDP) is expected to grow by 6.2-6.3 per cent in the fiscal year ending March 2024, making it the fastest-growing major economy in this financial year, according to S&P data. India’s economy grew by 7.8 per cent in the April-June quarter.

The spurt in foreign direct investment (FDI) in India in the last 10 years reflects favourable long-term growth for the Indian economy.

By 2030, Germany could be left behind.

S&P estimates that by 2030, India’s GDP can overtake Germany. Let us tell you that last year, India became the world’s fifth-largest economy, surpassing Britain.

Which are the top 5 GDP countries?

The US is currently the world’s largest country with a GDP of USD 25.5 trillion and accounts for a quarter of the world’s GDP.

In second place is China which has a GDP of 18 trillion US dollars. China accounts for about 17.9 per cent   of the world GDP.

Japan is ranked third with USD 4.2 trillion, followed by Germany with USD 4 trillion.

1.1 billion people will use the Internet by 2030

According to S&P data, by 2030, 1.1 billion Indians will have internet access, which will double the 500 million users in 2020.

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