India is set to become the world's second-largest economy behind China by 2075, knocking the U.S. into third place, according to a new Goldman Sachs report.
TECH FIRMS LOOK TO INDIA AS CHINA MANUFACTURING ALTERNATIVE – IF IT CAN OVERCOME CHALLENGES, EXPERT SAYS
The report said that beyond its demographic advantages, capital investment is also expected to be a significant driver of India's growth. The report stated, "India’s savings rate is likely to increase with falling dependency ratios, rising incomes, and deeper financial sector development, which is likely to make the pool of capital available to drive further investment."
Children visit the Taj Mahal in Agra, India, on April 25, 2023. India overtook China as the world's most populous country this year and is now set to become the world's second-largest economy by 2075, according to Goldman Sachs.researchers did note there are some risks that could hold India back from reaching its growth forecast.
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