New Delhi: India's economy may overtake Japan in the coming years. With this, India will probably become the third largest economy in the world by 2030. According to economists, this change may happen by 2025. According to a report in Japan Times, the International Monetary Fund (IMF) estimates that India's GDP will exceed that of Japan by that time.
.S&P Global Ratings estimates According to S&P Global Ratings, India is estimated to have a GDP of $7.3 trillion by 2030, surpassing Japan, which has a current GDP of $4.2 trillion. A release from the Press Information Bureau (PIB) It said India's rise in the ranking is due to its strong post-Covid economic recovery, young population and growing economic capabilities, strengthening its position as a regional power.
IMF estimates India's GDP will grow by 7 percent in 2024 and 6.5 percent in 2025, while Japan's growth is expected to be a modest 0.3 percent in 2024. India has maintained its strong economic expansion since 2021, driven mainly by solid domestic demand. India recorded a remarkable growth of 7.8 percent in the first quarter of 2023, making it the fastest growing major economy. India's GDP is expected to reach $5 trillion by 2026, slightly behind the government's original target. , and it will continue its upward trend. According to UBS, India is on track to become the third largest consumer market by 2026.
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