India GDP: Goldman Sachs Presented A Golden Picture Of The Indian Economy, This Year It Will Become The Second Largest Economy Leaving America Behind.

India GDP Data: India can become the second largest economy in the world by 2075. Global investment bank Goleman Sox has made this prediction in one of its reports. The report says that by a long leap, the Indian economy will overtake the economies of Japan and Germany. But India will overtake the American economy to become the second largest economy after China.

Goldman Sachs has said in its report that by 2075, China will become the world’s largest economy with 57 trillion dollars, while India will be in second place with 52.5 trillion dollars. The US economy will be the third largest with a size of $51.5 trillion. While the Euro Area with $30.3 trillion and Japan with $7.5 trillion will be the fifth largest economies.

According to a Goldman Sachs report, this is being projected along with a growing population, advances in innovative technology, higher capital investment and a surge in worker productivity. Over the next two decades, India will have the lowest dependency ratio among other economies in the region, said Shantanu Sengupta, India economist at Goldman Sachs Research. Dependency of any country is measured by the ratio of the total number of dependents to its working population. If the dependency ratio is low, it is assumed that there are more working people who will be able to support the young and old. According to the report, India will have the lowest dependency ratio among major economies.

In such a situation, India will have the greatest opportunity to increase manufacturing capacity, increase service industry and develop infrastructure. According to the report, the Indian government has given top priority to infrastructure like roads and railways. To encourage investment in infrastructure, the government has given interest-free loans to states for 50 years. Goldman Sachs believes that there are huge opportunities for the private sector to increase manufacturing and services capacity to maximize employment opportunities and employ a large workforce.

Earlier S&P and Morgan Stanley had said in their report that by 2030 India will become the third largest economy in the world.