India: by 2050 it will be the third largest economy in the world

India will become the third largest economy globally by 2050 in terms of GDP at purchasing power parity (PPP). This is the finding of a recent survey conducted by PricewaterhouseCoopers.

The study, called “World in 2050. The BRICs and beyond: prospects, challenges and opportunities.” predicts that the size of the world economy will increase by as much as four times by 2050, and China, already by 2017, will emerge as the largest economy in terms of PPP; remaining in the European sphere, Russia will grow in importance, becoming, by 2020, the largest economy in the Old Continent.

Emerging economies will grow at a rate of 4%, doubling the advanced economies, whose growth rate will average around 2%, in the years to come; moreover, the combined value of the economies of the seven major emerging markets (i.e., China, India, Brazil, Russia, Indonesia, Mexico, and Turkey) could exceed that of the G7 countries as early as 2017, with the gap widening in the future. One very interesting fact should be noted: among all the countries reported, only India will not see a decline in its working population by 2050.

Manlio Urbano

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