Investment Bank Goldman Sachs has said that India is poised to become the world’s second-largest economy by 2075 crossing Japan, Germany, and the U.S. With a population of 1.4 billion people, India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection. In a recent report, Goldman Sachs said, on top of a burgeoning population, driving the forecast is India’s progress in innovation and technology, higher capital investment, and rising worker productivity. It said, this is an appropriate time for the private sector to scale up on creating capacity in manufacturing and services in order to generate more jobs and absorb the large labor force. Labor force participation, a vast pool of talent, and a working-age population ratio are a few of the factors set to make India the second-largest economy in the world by 2075.
According to 85 sovereign wealth funds and 57 central banks representing 21 Trillion dollars in assets, India is now the number one emerging market to invest in. Invesco Global Sovereign Asset Management Study said, among the Emerging Markets, India has piqued sovereign investors’ interest, overtaking China. India exemplifies the attributes sought by sovereign investors.
It said, viewed increasingly positively for its improved business and political stability, favorable demographics, regulatory initiatives, and a friendly environment for sovereign investors, India has now overtaken China as the most attractive Emerging Market for investing in Emerging Market debt. India is among a number of countries, including Mexico and Brazil, that are benefitting from increased foreign corporate investment aimed at both domestic and international demand. The study said, India and South Korea continue to be the most attractive destinations for increasing exposure.
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