The share of the four nations in world growth could double from 20% in 2003 to 40% in 2025. Industrialisation in India and China could push the world growth rate to above 4% over the next few years.
By 2025, BRIC could have over 200 million people with incomes of over $ 15,000.
In global oil, China’s contribution would remain high but is likely to peak in 5-10 years and would decline steadily thereafter.
In oil, India’s impact will become more important and its contribution to global demand growth could overtake China’s in 15 years. India’s share of actual oil demand could nearly double and gradually converge on China’s by 2025. China and India together will then account for almost one-third of the global oil demand.
India’s growth in car ownership is expected to be slower than China’s over the next few years. While India has the potential for a three-fold increase in car ownership over the next 10 years, China can achieve the same in the next three years.
In India, the middle class is expected to increase 14 times in the next 10 years, compared to 10 times in China.