pull down to refresh

Indian economy will be larger than China and US by end of century: John Chambersm.economictimes.com/news/economy/indicators/indian-economy-will-probably-be-90-to-100-larger-than-china-by-end-of-century-john-chambers/amp_articleshow/113497479.cms
672 sats \ 5 comments \ @Coinsreporter 19 Sep econ
"This will be India's century & India will become the largest economy in the world."- John Chambers https://youtube.com/shorts/Vrd8Z_HyniU?si=Pe9AS1R8IyyzmbPe

Key Highlights

On the India-US Partnership:
  • India and the US as partners will make great nations even stronger. I think it adds two percent to the Indian GDP every year and I think it can add 1 percent to the US which is the largest economy in the world.
On the upcoming US Presidential Polls:
  • I think it (the US India partnership) is going to accelerate regardless of which person wins here in the US election, because both of them will be very much committed to the US India strategic partnership.
On expectations from PM Modi’s third term in office:
  • I think the focus will be on the right priorities. It's about increasing the standard of living for every person in India. It's about dealing with creating the 1.2 million jobs per month that we have to do.
On the Chinese economy:
  • They (China) missed their window of opportunity. And this is where a top-down approach to innovation does not work. You got to create the environment, and a large part of that is an environment of a democracy, where you have people who don't always agree and who have different opinions to each other.

My Opinion

While the rest of the world is grappling inflation, recession, soaring unemployment and an ever since increasing debt, India is showing signs of incredible progress and resilience is almost a wonder under current global conditions. There are many factors which are working in favour of India right now and John Chambers projection about India can be concluded as real.
It'll make more sense if we also include S&P Global's recent India Forward Report that forecasts India to become the third largest economy by 2030.
India is set to become the world’s third-largest economy by 2030–31, as per S&P Global India. The country is forecast to grow at an annual rate of 6.7 per cent, the report suggests.
If India becomes third largest by 2030, it'll still have seventy years to go past US and China. I assume it will be enough time to surpass US as well, even if India can maintain 5% annual growth on an average for the rest of the 21st century.
What do you say? Do you agree to the bullish remarks made by John Chambers and S&P India Report?
write
preview
related posts
20 sats \ 1 reply \ @Undisciplined 19 Sep
I'm not big on hundred year predictions, because so much can change, but it's not an unreasonable expectation.
The main thing will be if India can deregulate, which I know goes strongly against their governance tradition.
One of the big factors might be geography. Most of the world's population lives in a fairly small area centered on Southeast Asia. As those economies grow, India's proximity to most of the world's population will give it significant trade advantages, not to mention intangible benefits from cultural similarity.
reply
46 sats \ 0 replies \ @Coinsreporter OP 19 Sep
I too am not big on 100 years prediction but as you said it's not unreasonable to expect.
Definitely, India needs to deregulate and I'm glad to see that positive progress is being made towards it in recent times. W lot has been changed under Modi's regime, a lot however still need to be done. You can see India is becoming favourite place of global giants and this has everything to do with India's changed attitude.
You're definitely right about India's advantage to be in the proximity of world's largest population. China isn't very far either. The market for consumption is already there and with government's better for all policies, the projection of India becoming third largest may even complete before 2030. We can also consider the troubles of Germany and Japan which are just higher to India sitting on 5th place.
reply
0 sats \ 0 replies \ @stack_harder 20 Sep
what will the equality and average quality of life be for indians by then tho?
reply
0 sats \ 0 replies \ @LowK3y19 20 Sep
India is taking over Hollywood and China!
reply
0 sats \ 0 replies \ @Satosora 19 Sep
I guess we will have to see what it is like in the next ten years. Maybe china might own half of india by that point.
reply