Emergic: Rajesh Jain's Blog

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Newsweek on the New India

March 4th, 2006 · 1 Comment

Newsweek writes: “While China’s rise is already here and palpableit has grown at almost 10 percent since 1980India’s is still more a tale of the future, but a future that is coming into sharp focus. A much-cited 2003 study by Goldman Sachs projects that over the next 50 years, India will be the fastest-growing of the world’s major economies (largely because its work force will not age as fast as the others). The report calculates that in 10 years India’s economy will be larger than Italy’s and in 15 years will have overtaken Britain’s. By 2040 it will boast the world’s third largest economy. By 2050 it will be five times the size of Japan’s and its per capita income will have risen to 35 times its current level. Predictions like these are a treacherous business, though it’s worth noting that India’s current growth rate is actually higher than the study assumed.”

Tags: Emerging Markets

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