“India to overtake Germany, Japan by 2029”: SBI Forecast

“India to overtake Germany, Japan by 2029”: SBI Forecast
“India to overtake Germany, Japan by 2029”: SBI Forecast

If the current economic growth continues, Germany in 2027 and in 2029

The SBI Economic Research Group predicts that India will overtake Japan as the third largest economy in the world.

India was the 10th largest economy in the world in 2014. Since then, it has now overtaken Britain as the 5th largest economy. An economic report by a team led by SBI Chief Economic Adviser Sowmya Gandhi Ghosh said that an improvement of 7 places since 2014 would be a significant achievement.

Further, it states:-

In the first quarter of the financial year 2022-23, India’s gross domestic product (GDP) grew by 13.5 percent. If this trend continues, India will be the fastest growing economy in the current financial year. India’s GDP growth rate for the current financial year

Although it is currently estimated at 6.7 % to 7.7%, we strongly believe that it is insignificant. We believe that 6% to 6.5% growth is normal despite the continued uncertainty in the global economy.

With China currently facing a slowdown, new investments in India may increase. The fact that the famous Apple company from America has decided to export the component production of the iPhone 14 model from India to the world is a testimony to this. It is seen as the most important move by Apple in the last two centuries.

At the beginning of the 21st century, China traveled the development path and became the 2nd largest economy. Similarly, if India follows the right economic policy and realigns in geopolitics, the current valuations may rise further.

It says so.

The article is in Tamil

India

Tags: India overtake Germany Japan SBI Forecast

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