In 2030, India will surpass Japan to become the second largest economy in Asia


Author:Zheng Yang
Source: ennews

Financial Information Service ProviderIHS MarkitOnFridayofA reportIn, toIn 2030, India may surpass Japan to become the second largest economy in AsiaAt that timeGDP is expected to exceed that of GermanyFranceAnd the UKAnd other Western European countriesAnd become the third largest economy in the world.


IHS MarkitReport DisplayIndiaAvowedgross domestic productGDPestimatetakefromThe figure of US $2.7 trillion in 2021 will increase to US $8.4 trillion in 2030.India is currently super fastEconomic expansion speedHopefullyThe GDP scale will surpass Japan in 2030 and become the second largest economy in the Asia Pacific region.


Currently, IndiaIn the worldEconomiesRanked sixth in the middleIn front of them areUSA, China, JapanGermany and the United Kingdom.


Indian economiclightprospectInseparablesomecritical factor Support for


according toIHS Markit saidIndiaCurrent marketOne importantofpositiveelementIs its large and rapidly growing middle class, which helps drive consumersofdailyexpenditureaccording toIHS Markitforecast, Indian marketConsumer spending will increase fromWe will double the US $1.5 trillion in 2020 and reach US $3 trillion by 2030.


IHS Markitmention, for the entiretwo thousand and twenty-onereachtwentyIn fiscal year 22, India's real GDP growth rate is expected to be 8.2%,takefromtwo thousand and twentyreachtwenty7.3% in the 21st yearGrowth rate of severe shrinkageinGet betterand,Expected IndiaofThe economy willtwo thousand and twenty-tworeachtwentyIn FY23, it continued to grow at a strong rate of 6.7%.


In recent years, thanks toFast growing consumer marketAnd its huge industrial sectorIndiagraduallybecomeImportant investment destinations of many transnational corporations. In the past few years, financial technology companies such as Google and Facebook have also been attracted by India's huge consumer market and invested a lot of money.


In the future, India will also become the most important long-term investment market for many multinational companies,IndiaIncluding manufacturing, infrastructurebuildAnd service industriesWill continue to welcomeGood development. It is not impossible for India to surpass Japan and become the second largest economy in Asia.

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