PRIME Minister Narendra Modi while addressing a crowd of who’s who of the corporate, bureaucratic and political world in New Delhi made a promise that in his third term as Prime Minister, India will be the third-largest economy.
For India (with current GDP size of $3.38 trillion) to become the third-largest economy, it needs to go past Germany ($4 trillion) and Japan ($4.2 trillion). While India’s nominal GDP in dollar terms has been growing at an average 6.3% over the past 10 years, Germany is growing at 1.43% while Japan’s GDP has declined at 3.8% over the past decade.
“Keep in mind the two economies we need to surpass are in a shrinking phase with an aging population and weakening demand,” says Debopam Chaudhary, chief economist, Piramal Enterprises.
Not a mean feat
Nonetheless, India still has some catching up to do. “India should surpass both Japan & Germany in 2027 at the current rate of growth,” says a report by Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India.
هذه القصة مأخوذة من طبعة July 30, 2023 من The Morning Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة July 30, 2023 من The Morning Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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