Posted 12/15/2023, 4:46:19 PM
India Set to Become World's 3rd Largest Economy by 2026, Surpassing Current Projections
- India's economy is projected to reach $5 trillion by 2026 and become the world's 3rd largest economy, beating current predictions
- India is currently the 5th largest economy behind the USA, China, Japan and Germany
- Japan and Germany are unlikely to cross $5 trillion GDP in the next 3 years due to economic struggles and currency changes
- India has averaged 10.22% annual GDP growth over the past 20 years even despite major crises
- To maximize growth potential, India needs reforms helping enterprises grow larger to create more jobs and migration from rural to urban areas