India Set To Become Third Largest Economy In The World By 2030, Says PwC

LONDON: The latest estimates by London-based accountancy giant PricewaterhouseCoopers (PwC) have shown in a report that India is all set to become the third largest economy in the world by the year 2030.

The firm said that the rapid rise of the economy in India, with its young workforce, would pull it up from the position of the country as 10th largest economy in the world to become third largest in the world by 2030, pushing down UK back to the sixth place.

In its latest economic outlook, PwC has said that other emerging markets may in the long run overtake the UK, but only India seems to be set to do so before 2030, according to their latest projections.

It is expected that China, the second largest economy in the world, will be closing the gap with America by 2030, while it is predicted that Mexico will be the 10th largest economy by 2030, above Italy and Canada, which are both G7 nations.

It was only a couple of years ago that there had been forecasts that Britain would rapidly emerge as a second-class economic power of the world, and that it would need to defer to BRIC nations like India, China, Russia and Brazil in the near future.

China has for the last decade ranked above Japan as the second largest economy in the world.

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