India is on the threshold of major reforms and is poised to become the third-largest economy of the world by 2030 and its ascension could see France and Italy kicked out of the exclusive G8 group or its membership increased to 10 to accommodate India and Brazil. According to a new study of UK think tank. India’s projected GDP in 2030 was $10,133 billion, behind America’s $32,996 billion and China at the top with a projected GDP of $34,338 billion. In the words of our Hon’ble Prime Minister, India offers the 3 ‘Ds’ for business to thrive— democracy, demography and demand. Add to that a tech-savvy and educated population, skilled labour, robust legal and IPR regime, and a strong commitment to calibrated liberalization — India is a destination that German investors cannot overlook. India’s manufacturing sector has evolved through several phases – from the initial industrialisation and the license raj to liberalisation and the current phase of global competitiveness. Today, Indian manufacturing companies in several sectors are targeting global markets and are becoming formidable global competitors. Many are already amongst the most competitive in their sectors. View more at #Hindustan360 .
What does media says
According to a report by the UK think tank Centre for Economics Business and Research (CEBR), China will overtake the US as the largest economy in the world in 2029 with the US slipping to second place and India close behind at third. India’s projected GDP in 2030 was $10,133 billion, behind America’s $32,996 billion and China at the top with a projected GDP of $34,338 billion.
[source – Indiatimes]
The current macroeconomic projections for 2015 show India in the eighth spot, behind countries like Brazil, France and Germany. However, in the next 15 years, India is likely to surpass these countries to break into the top three. The projections show that even though US is likely to be the world’s largest economy, it will have reduced dominance. On the other hand, China, a robust Asian powerhouse, will be closely following the US economy on the number 2 spot.
[source – Indian Express]
By 2030, China will have almost tripled its gross domestic product (GBP), India will have overtaken Japan as the world’s fourth biggest economy, and the UK’s GDP will be lagging behind Brazil’s. So says data from the US Department of Agriculture, who have published their projections of each country’s GDP for the next 15 years.
[source – Indian Express]
The world’s second populous nation (India) has made a start in 2015 in catching up with China, with faster economic growth than China for the first time in recent years. But there is still a long way to go and India is only likely to overtake China at some point in the second half of the 21st century,” said latest edition of CEBR Global’s World Economic League Table (WELT) for 2016.
[source – Deccan Chronicle]
Demographics Advantage of manufacturing in India:
Ease of Doing Business in India:
http://www.makeinindia.com/article/ http://economictimes.indiatimes.com/ http://www.independent.co.uk/news/business/ http://www.dnaindia.com/money/ http://www.deccanchronicle.com/