By the year 2075, India is expected to surpass the US as the world’s second-largest economy, according to a recent estimate from Goldman Sachs. The BRICS nations will also surpass both Japan and Germany in their rise to the top economy in the world, according to the projection.
The BRICS country is currently the world’s fifth-largest economy, behind the US, China, Japan, and Germany. Goldman Sachs then forecasts that India can maintain its economic growth and overtake three of the countries that are now above it.
India will have the second-largest economy, according to Goldman Sachs
India has been perceived as an up-and-coming economic power all year. Its development could place it among the top nations in the world when combined with its affiliation with the BRICS economic group and creative practices in a variety of technological fields.
Currently, India is expected to surpass the US as the second-largest economy in the world, according to Goldman Sachs. According to the estimate, the position could alter during the course of the following 20 years. By 2075, India will overtake the US, Germany, and Japan.
According to a recent research by Goldman Sachs’ Santanu Sengupta, “Over the next two decades, the dependency ratio of India will be one of the lowest among regional economies.” The number of dependents divided by the population of working age yields the dependency ratio.
Additionally, India anticipates a $245 billion rise in revenue from the IT sector by the end of 2023. According to India’s trade partner NASSCOM, this increase would also be seen in the IT, software, and business management sectors. In contrast, Goldman Sachs forecasts that the nation’s growth will continue to be driven by capital investment.