India has become the fifth largest economy in the world in India, and in 2030 may become the third

Jimu Journalist Song Qingying

According to the "Guardian" reported on September 12, studies have shown that India may surpass Germany and Japan by 2030, becoming the third largest economy in the world after the United States and China.

Indian manufacturing worker (Source: Agence France -Presse)

According to the latest estimate of the International Monetary Fund (IMF), at the end of March 2022, India has replaced the United Kingdom, which has ruled India for about 200 years, becoming the fifth largest economy in the world. Ten years ago, India ranked 11th and Britain ranked 5th.

At present, India's economy is second only to the United States, China, Japan, and Germany for about $ 854 billion.

Hillary Shata, an Indian economist in the British Think Tank, reported that from 2022 to 2030, India's GDP is expected to grow at a average growth rate of 6%.

Saa said: "Looking forward to the future, India seems to continue to rise in the world. In general, we believe that India will surpass Germany and Japan in the next decade to become the third largest economy in the world."

On August 15th of this year, Indian Independence Day, Indian Prime Minister Modi formulated the vision of the next 25 years for the country. He proposed that India would become a developed country in 2047, and 2047 was the 100th anniversary of India's independence.

One of the key reasons for India's continued rise is the development of manufacturing. India has benefited from the huge middle class that has been well educated and spoke English, helping the country to develop world -class IT and pharmaceutical industries. In addition, India also has strong consumer demand, accounting for about 55%of the total economic volume.

"French Foreign Trade Bank's emerging market in Hong Kong, Trinh Nguyen, said," Because its population structure is very beneficial to the growth of working age, India's demand is expected to be strong, "she said." This will be. Promote the demand for food and energy and infrastructure investment. After the epidemic, the economic recovery and the increase in government expenditure, especially the increase in infrastructure investment, is helping consumption and investment accelerating. "

India's GDP increased by 13.5%from April to June, reaching the fastest growth rate in the past year, and also made India a "fastest growing economy in the world."

According to Forbes, in addition to India, other emerging markets such as Bangladesh, Morocco and Vietnam will also jump in the next ten years. "In fact, our prediction shows that by 2030, emerging markets will account for 52%of GTP, and this ratio in 2020 will be about 45%."

However, according to the Indian Stan Times, experts are worried that the rising interest cost and the threat of the decline in major world economies may slow down India's growth momentum in the next few quarters.

In addition, India's agricultural growth and rural demand, slowing manufacturing growth, and trade deficit are also unstable factor for economists.

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