MUMBAI: 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.
“We remain optimistic about India’s long-term growth prospects. Our forecast suggests the economy will reach $29 trillion in 2047 from the current $3.4 trillion and $45 trillion by 2052, and surpass Japan’s GDP by 2027,” the report by Indranil Sengupta, CLSA’s head of India research, noted. “However, we expect a slowdown in growth until September 2024, followed by a cyclical recovery in 2025.”
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.
“We remain optimistic about India’s long-term growth prospects. Our forecast suggests the economy will reach $29 trillion in 2047 from the current $3.4 trillion and $45 trillion by 2052, and surpass Japan’s GDP by 2027,” the report by Indranil Sengupta, CLSA’s head of India research, noted. “However, we expect a slowdown in growth until September 2024, followed by a cyclical recovery in 2025.”
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.