At $45tn, India To Be World’s Largest Economy In 2052: CLSA
By 2052 — in less than 30 years from now and five years after the government-christened Amrit Kaal ends in 2047 — India could surpass the US to be the world’s largest economy with a nominal GDP of $45 trillion, a report by foreign broking major CLSA said. It also said that by 2027, India will surpass Japan to be the world’s third largest economy and by 2047, the end of the Amrit Kaal, it will be a $29 trillion economy.
It projected India’s GDP growth to propel it to the top three of the globe’s largest economies, from a mere $3.4 trillion today to larger than Japan’s by 2027, hitting $45 trillion mark by 2052.
At a time when the global economy is facing the twin problem of high inflation and slowing growth, with even the world’s growth engine China not showing a sign of recovery, India has taken the centerstage.
CLSA estimates that the Indian economy will grow by 6.4% in the current fiscal, 6.5% in fiscal 2025 and 7.5% in fiscal 2026. While anticipating a growth slowdown until September 2024, CLSA envisions a cyclical recovery in 2025, estimating a 6.4% growth in the current fiscal year, 6.5% in fiscal 2025, and 7.5% in fiscal 2026.
The foreign brokerage felt India is poised for growth with rising incomes, institutional accessibility and the impact of innovation and digitisation.
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