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As per the forecast by the leading global investment group, Goldman Sachs, With an Indian Population of 1.4 billion people, India’s GDP is likely to expand dramatically.
Few past years have made the tricolor nation come across its many capabilities. With technology gaining ground over the world, India has made entered almost every sphere with some brilliant minds working in the background. Even the graphs provided by Goldman Sachs agree with the progress rate India is moving towards.
As of 2075, India is all set to be the world's second-largest economy due to high labor force participation, a vast talent pool, and a large working-age population.
According to some updates by World Bank, After facing the global pandemic, in 2022, India came to be one of the fastest-growing economies in the world. This unprecedented growth was despite challenges in the global environment including renewed disruptions of supply lines and geopolitical tensions and tight monetary policies. A forecast by Goldman Sachs estimates India's GDP to grow dramatically, reaching $52.5 trillion, marginally exceeding the US GDP projection, with 1.4 billion people.
The nation’s growth has various supporting factors like robust domestic demand and even the government’s push for investment in infrastructure.
Goldman Sachs Research’s India economist, Santanu Sengupta, said that in the upcoming two decades, India’s dependency ratio will also decrease among the other regional economies.
Further, He also stated that the country’s population has one of the best ratios between its number of children and elderly and its working-age population. Sengupta said That is the window for India to set up manufacturing capacity, grow services, and build infrastructure,
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