A recent study by Goldman Sachs suggests that India’s GDP is poised for significant growth, driven by its large population of 1.4 billion people. The research predicts that by 2075, India will become the world’s second-largest economy, with a projected worth of $52.5 trillion, surpassing the United States and trailing only China.
The key to India harnessing the potential of its expanding population lies in increasing labor force participation, as well as enhancing training and skills development among its talent pool. In the coming decades, India is expected to have one of the lowest dependency ratios among regional economies, providing a prime opportunity to establish robust manufacturing capabilities, foster the growth of service sectors, and continue investing in infrastructure.
The study also highlights that India boasts an advantageous demographic composition, with a favorable ratio between its working-age population and the number of children and elderly citizens. This favorable demographic profile further strengthens India’s prospects for economic success in the long run.
