INDIA LIKELY TO OVERTAKE JAPAN AS THE WORLD’S THIRD LARGEST ECONOMY BY 2050: LANCET

India is likely to overtake Japan as the third largest economy in the world by 2050 and continue in that position till 2100, according to a study published in the medical journal Lancet.

The study based 2017 as the reference when India was the seventh largest economy in the world, and forecast that India will emerge as the fourth largest economy by 2030 behind USA, China, Japan and by 2050 it will go onto the third spot and retain it till 2100.

It said that huge declines in the number of workers were forecasted in China and India.

By 2100, India was forecasted to still have the largest working-age population in the world, followed by Nigeria, China, and the USA. The study showed that China would rise to the top in 2035 in the reference scenario for GDP, but would be superseded by the USA again in 2098 as population decline curtailed economic growth.

Inputs: TOI

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