Per CNBC
Goldman Sachs believes that in 2075, India will surpass the US as the world's second-largest economy
7/10/2023
Goldman Sachs says that come 2075, India would become the world's second-largest economy. This comes as the country currently sits behind Germany, Japan, China, and the US in fifth place.
Santanu Sengupta, India economist for Goldman Sachs Research, gave a statement regarding the occurrence, saying that India's dependency ratio would shrink in comparison to regional economies. The economist believes that this will happen in two years.
Goldman Sachs: “Over the next two decades, the dependency ratio of India will be one of the lowest among regional economies... So that really is the window for India to get it right in terms of setting up manufacturing capacity, continuing to grow services, continuing the growth of infrastructure,”
Sengupta also pointed out how India's rapidly growing population involves strong labor force participation. Goldman Sachs shared how they thought it would be a good time to scale manufacturing and services to provide enough jobs for the growing labor numbers.
In May, Amazon reportedly shared plans to scale its investments in India with a budget of $12.7 billion by 2030. This investment would be toward cloud infrastructure.
Tesla was also eyeing an India expansion with a potential "significant budget." This came after Elon Musk spoke with the country's Prime Minister Narendra Modi.
See flow at unusualwhales.com/flow.
Other News:
- Amazon plans to scale investments in India with a budget of $12.7 billion for cloud infrastructure by 2030
- Tesla eyes India expansion with potential 'significant investment'
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