India’s economy will surpass Japan’s to become the world’s third largest economy, behind the United States and China, within 25 years, according to a research report released by William Wilson, chief economist for Keystone India and claimed to be the leading economists in the United States.
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Keystone facilitates the flow of trade and investment between the United States and India.
“Demographics and economic reform are driving India’s growth,” Wilson said. “With half the population under the age of 25, India will have the youngest labour force in the world, and its population is expected to exceed China’s by 2030.
“India’s working age population is expected to grow continuously over the next 40 years. At the same time, China is aging faster than any other country in history, largely due to its one child policy.
“India’s economic reforms, which formerly were driven by responses to crises, are now driven by policy,” added Wilson.
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By GlobalData“India has also made better use of invested capital than China. China’s investment as a share of GDP is twice that of India, but its GDP growth rate has been only 50% higher.
“Rising domestic investment is likely to lift India’s trend GDP growth rate above 7% for some time.”
