According to a report released by the National Bank of India (SBI), India has overtaken the UK as the world's fifth-largest economy. And if India continues to grow at its current economic growth rate, india will become the world's third-largest economy in 2029. The former "three brothers" are about to truly become the third in the world, and India has set the next catch-up target as China.
According to statistics from the International Monetary Fund (IMF), India's economy surpassed the United Kingdom as early as the last quarter of 2021 to become the world's fifth-largest economy after the United States, China, Japan and Germany. Affected by Brexit, inflation, the new crown epidemic, the Conflict between Russia and Ukraine, and political instability, the British economy has experienced a serious decline. Whether Terrasse or Sunak becomes Prime Minister, he will take over a country with a persistent recession and soaring inflation.
Many Indian entrepreneurs, politicians and the media rejoice that India has surpassed Britain, a former colony that now surpasses its suzerainty, Britain. The story of this slave counterattack becoming the master has delighted almost all Indians who pay attention to the economy. Just when the whole of India is immersed in the joy of "trying to turn into a master", India has set the next transcendent goal as China.
Subraman yam, an official at India's Ministry of Commerce and Industry, believes that according to the vision set by Indian Prime Minister Narendra Modi, if the current momentum of development is maintained, india will surpass China to become the world's second largest economy by 2047. Michael Debabrata Patra, deputy governor of the Reserve Bank of India (RBI), also said that if India achieves an 11% growth rate over the next decade, india will become the world's second-largest economy by 2031. And even if India can't maintain such a high growth rate and slows to 4%-5% in 2040-50, India can become the world's largest economy by 2060 (surpassing China).
Although most people in India are currently full of confidence that India will surpass China to become the world's second largest economy and even become the world's largest economy, there are still many Indian experts who have remained sober and believe that India and India should not be carried away by the immediate "economic achievements". For example, Al Jazeera has said that due to the easing of the pressure of the epidemic in India, the performance of agriculture and manufacturing, india's rapid economic growth, but there are still hidden worries behind this. The Hindu newspaper also said that India's per capita GDP is still low, the growth rate of manufacturing has slowed down, and there is a large trade deficit.
However, in terms of GDP per capita, India continues to lag behind most of the world's economies. According to the World Bank, India's GDP per capita in 21 years was $2277, belonging to the low- and middle-income economies. According to the current threshold in developed countries, this figure is more than $20,000. China's per capita GDP in 2021 is $12,551, more than six times that of India, while the UK's per capita GDP is $47,334, more than 20 times that of India. The huge population not only brings a huge demographic dividend to India, but also becomes a stumbling block to the Indian economy.
India seems to have a long way to go if it wants to surpass China and the United States to become the world's number one economic power in the future.
#微头条打卡 #
