India to outpace US to emerge as second largest economy by 2040: PwC

[Mikesingh]

India will outpace the United States to emerge as the second largest economy in purchasing power parity (PPP) terms by 2040, global management consultant PricewaterhouseCoopers has forecast in a report.

India’s GDP growth is estimated to have slowed to 7.1% in 2016-17 from 7.9% in 2015-16 after the government decision to scrap Rs 15.44 lakh crore worth of high denomination notes or 86% of currencies in circulation. However, analysts expect the economy to bounce back from 2017-18 on rising consumer demand.

By 2040, India’s gross domestic product in PPP terms will grow to $30 trillion from $8.7 trillion in 2016, while US will grow from $18.6 trillion to $28.3 trillion, said the PwC report titled “The World in 2050”.

China will continue to lead the chart with its GDP rising from $21.3 trillion to $47.4 trillion by 2040.

By 2050, China’s GDP in PPP terms will touch $58.5 trillion followed by India ($44.1 trillion) and the US ($34.1 trillion).

However, India’s GDP measured in terms of dollar will grow to $28 trillion to emerge as third biggest by 2050, after China ($49.9 trillion) and the US ($34.1 trillion). In 2016, India’s GDP size was just $2.3 trillion, a fraction of China‘s $11.4 trillion and $18.6 trillion of the US.

http://www.hindustantimes.com/busin...40-pwc-says/story-nD4SEUZfqTKYZvgs6MoLeJ.html

It Modi is there till 2024 at least and his policies are carried forward, then I daresay India's GDP could touch $35 -36 Trillion in dollar terms by 2050 outpacing the USA which could see an economic collapse by then, seeing how things are moving out there.

 

[Indx TechStyle]

Report 2015

Report 2017

Most countries' new estimates are down while India's are up.

You can think over it again too because India has been continuously underestimated and US & China are continuously overestimated by PwC (& PwC has most pessimistic projections for Indian GDP) but result is changed every time.
India over delivers, always. It will surpass US much before projected. And who knows if we could surpass even American nominal GDP before 2050?

 

[Mikesingh]

The Pakis are going to town with their 16th rank by 2050, never mind if India would be 10 times their economy by then in spite of their much touted CPEC which they claim will make them a superpower as 'rivers of gold will flow in Pakistan' according to their senator Abidi!! Lol!!

But they always try and equate themselves with India and get pissed when the world doesn't see it that way. Apni aukat always bhool jaathey hain! Morons!

 

[Razor]

Can these pwc guys be trusted, I mean they couldn't get a card right at the Oscars.


Anyway I don't think there is any point trying to predict 2040.

What I'm more concerned about is the real estate collapse that might happen in the next few years.
All major nations (the US, PRC) have gone through real estate bubble-bursts.

 

[Indx TechStyle]

Anyway I don't think there is any point trying to predict 2040.

This is just a long term projection, made by IMF & WB also who are more accurate than PwC.

Final GDP results come close to these projections if economy remains stable.