India to surpass China, will become world's largest economy by 2050: Report

Discussion in 'Economy & Infrastructure' started by Vishwarupa, Mar 30, 2012.

  1. Vishwarupa

    Vishwarupa Senior Member Senior Member

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    NEW DELHI: Surpassing China, India will become the world's largest economy by 2050, says a report.

    India to surpass China, will become world's largest economy by 2050: Report - The Economic Times

    "China will overtake the US to become the world's largest economy by 2020, which in turn will be overtaken by India in 2050," according to Wealth Report 2012 by Knight Frank & Citi Private Bank.

    As per the report, Indian economy will reach $ 85.97 trillion size in terms of purchasing power parity by 2050, while the Chinese GDP would be $ 80.02 trillion during the same period.

    The US -- currently the world's largest economy -- is expected to have a GDP of $ 39.07 trillion by 2050.

    Other nations in the top ten list of world's largest economies would be Indonesia (4th), Brazil (5th), Nigeria (6th), Russia (7th), Mexico (8th), Japan (9th) and Egypt (10th).

    In terms of growth from 2010-2050, India would be the second fastest with its economy growing at the rate of eight per cent in the period.

    With a pace of 8.5 per cent, Nigeria would be the fastest growing economy during the same period, the report said.

    In 2010, India was world's fourth largest economy with a value of $ 3.92 trillion compared to China's $ 9.98 trillion and America's $ 14.12 trillion.

    The report named Surat and Nagpur among fast-growing cities to watch in 2050.

    "We believe the cities to watch in 2050 are the 400 emerging market middleweights - fast growing cities with populations between 200,000 and 10 million.

    "This dynamic group includes many cities that are not household names today: Linyi, Kelamayi and Guiyang in China; Surat and Nagpur in India; Concepcion and Belem in Latin America," it said
     
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  3. ant80

    ant80 Regular Member

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    Why is it that only Indian groups are forecasting India to emerge as the largest economy in the future...
     
  4. Yusuf

    Yusuf GUARDIAN Administrator

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    This kind of report has come out 2-3 times in the last two years and threads on it have been posted.
     
  5. arya

    arya Senior Member Senior Member

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    well that can be true but we have to so 3 time work for that

    china is ahead now but in future we can lead but we need to work more and speak less
     
  6. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

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    Its from CitiBank which is an American bank. Its based on the fact that India will able to maintain a 8% real GDP growth on average for the next 3-4 decades which should not be hard given that our population divined should last till 2060. Ofcourse that also means we provide technical and higher education to our young people AND gainfully employ them.

    China's population dividend runs out in 2020-2025 and that is the crucial period.
     
    Last edited: Mar 30, 2012
  7. p2prada

    p2prada Stars and Ambassadors Stars and Ambassadors

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    I guess I will wait for another 30 years before we decide these things. I wonder if Earth has the resources for all this.
     
  8. amitkriit

    amitkriit Senior Member Senior Member

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    This is the UPA version of "India Rising".
     
  9. Mr.Ryu

    Mr.Ryu Regular Member

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    This is :bs: all top analysis's all over the world cant predict the global economy crisis will hit us by "2009-till now" and many top banks will pickup their bags and they predict almost 4 decades future from now :facepalm:

    But one thing is true for sure we will get pass to the no1 economy country. :thumb:
     
  10. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    What makes you think that we will be able to sustain that growth? Because we have this fcuked up UPA?
     
  11. Yusuf

    Yusuf GUARDIAN Administrator

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    Please see the growth figures from 2004. Te downturn is global and inflation is also a global phenomenon. India is still doing pretty well considering the times. China is down to 7% growth!!
     
  12. LalTopi

    LalTopi Regular Member

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    As per the report, Indian economy will reach $ 85.97 trillion size in terms of purchasing power parity (PPP)

    PPP is the key factor. I.e. how far your rupees will go taking into account the local cost of living.
    Trouble is, you can't buy Rafales or C17s or P8s with PPP - you need dollars and Euros for these.

    India should focus on building up its industry and not get to gooey eyed with growth forcasts.
     
  13. Yusuf

    Yusuf GUARDIAN Administrator

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    PPP is a feel good factor!

    Yes it will not buy imported items at PPP price but it sure means domestic consumption will be high with all that money in the hands of people which in turn will result in more growth.
     
  14. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    The growth figures from 2004 is due to strong fundamentals left by NDA. This good for nothing Maimo and her stooges have done nothing but ruin the Growth.
     
  15. Godless-Kafir

    Godless-Kafir DFI Buddha Senior Member

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    Well as long as we have collation politics, democracy and CONGRESS party we will never develop.
     
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  16. Yasir_Tiger

    Yasir_Tiger New Member

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    Amazing!
    This made My Day
     
  17. W.G.Ewald

    W.G.Ewald Defence Professionals/ DFI member of 2 Defence Professionals

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    I will offer my congratulations now. I will be 107 in 2050 and it might slip my mind.
     
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  18. The Messiah

    The Messiah Bow Before Me! Elite Member

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    And i will be nearly as old as you in 2050 that you are now :)
     
  19. LalTopi

    LalTopi Regular Member

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    Nice to know there are still people left around older than I ;)
     
  20. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    China hasn't had sustainable growth since the financial crisis in 2008. It will be far sooner than most think.
     
  21. LalTopi

    LalTopi Regular Member

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    Yes. PPP is very important. But it is also important to look at Nominal GDP. You need to look at both sides of the coin. PPP gives you local consumption - roti kapna aur makan but Nominal GDP buys you overseas armaments and technology - Rafles, C17s etc

    At PPP India is 4th in the world, but at Nominal GDP India is something like 8th in the world, somewhere just behind the UK. Therefore on the international buying power stakes India is not as wealthy as PPP would suggest. Although it is fair to say that provided India keeps improving PPP, Nominal GDP will eventually catch up.
     

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