India to overtake US as world's second largest economy by 2075: Goldman Sachs Report
India's rise as a global economic powerhouse is on the horizon, with predictions from banking giant Goldman Sachs suggesting that by 2075, India to surpass US and become World’s 2nd largest economy by 2075. As such, India will claim the position as the world's second-largest economy, surpassing the United States, Japan, and Germany. Given the importance of this Goldman Sachs Report, GD Topic that India to overtake US as world's second largest economy is expected to be a hot Topic for MBA Entrance and other entrance exams. In this article, MBAUniverse.com explores the key factors propelling India's remarkable trajectory and highlights the reasons behind this momentous growth.
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"Over the next two decades, the dependency ratio of India will be one of the lowest among regional economies," the Goldman Sachs predicts. According to Santanu Sengupta, Goldman Sachs Research’s India economist, innovation, increasing worker productivity and capital investment is also going to be a significant driver of growth going forward. “Yes, the country has demographics on its side, but that’s not going to be the only driver of GDP. Innovation and increasing worker productivity are going to be important for the world’s fifth-biggest economy. In technical terms, that means greater output for each unit of labor and capital in India’s economy," he said.
Let’s explore the key factors propelling India's remarkable trajectory and highlights the reasons behind this momentous growth.
India's trajectory towards becoming the world's second-largest economy is fueled by several key factors. Favourable demographics, innovative mindset, robust capital investment, and infrastructure development have laid the foundation for India's remarkable growth story. By capitalizing on its demographic advantage, embracing innovation and technology, and fostering private sector participation, India is paving the way for a future of unparalleled economic prosperity.
As India continues its journey towards economic supremacy, the world is witnessing a transformational shift in global power dynamics. By leveraging its strengths and navigating challenges, India is poised to become an economic powerhouse, shaping the global economic landscape in the decades to come.
As Goldman Sachs predicts India to overtake US as world's second largest economy and given the importance of this prediction, this is expected to be a hot GD Topic for MBA Entrance and other entrance exams. Keep track of this GD topic and do well in your MBA interview. Best of luck!
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