With a current population estimated at 1.46 billion (now larger than China’s), India accounts for around 18% of the world’s total population.
If you were running a business with:
- 18% of the world’s population in your home market
- English being spoken well by a good proportion of the population and with English language ability providing valuable access to international markets
- skilled and hard working employees
Would you be mildly optimistic about your outlook? Of course, you would have to deal with the day to day issues of logistics, marketing, financing etc but even so, you might still be mildly optimistic.
The story is only just beginning. Yours and my parts of this story come at the end of this article. Read on.
The IMF, World Bank and Goldman Sachs are all optimistic about the country’s outlook. India is currently the fifth largest country by size of economy. However, by 2050 Goldman estimates it will be the third largest in the world. Sounds good but when you examine the numbers it really is impressive.
In 2022 the Indian economy was valued at $3.385 trillion. Goldman expects the economy to be $22.2 trillion by 2050. By 2075 it is anticipated it will be $52.5 trillion, making it the second largest economy in the World.
To give some context, the economic output (GDP) of some other countries in 2075 are estimated to be:
- USA $51.5 trillion
- Japan $7.5 trillion
- UK $7.6 trillion
- Germany $8.1 trillion