Goldman Sachs Predicts India's Economic Rise

Goldman Sachs predicts India will surpass Japan, Germany, and the United States to become the second-largest economy by 2075. The projected growth is driven by a growing population, technological advancements, higher capital investment, and increased worker productivity. Goldman Sachs economist Santanu Sengupta highlights India's low dependency ratio as an opportunity to leverage its growing population through increased labor force participation, manufacturing capacity, service expansion, and infrastructure investments. Other institutions, such as S&P Global and Morgan Stanley, have predicted that India will become the world's third-largest economy by 2030. In the first quarter of the current fiscal year, India's GDP expanded by 6.1% year-on-year, surpassing expectations. The country's full-year growth is estimated at around 7.2%, compared to 9.1% in the previous fiscal year, 2021-2022.