India to become 5th largest economy this year; 2nd in APAC by 2025

Economic Times ^ | 3 June 2019 | AP

[Cronos]

India is forecast to overtake the UK to become the world's fifth largest economy this year and projected to surpass Japan to feature at the second position in the Asia-Pacific region by 2025, IHS Markit said Monday.

In a report on Prime Minister Narendra Modi and his BJP party's victory in the national elections, it said the economic outlook "looks positive" for the second term of Modi government, with GDP growth forecast to average around 7 per cent per year over the 2019-2023 period.

"India is forecast to become the world's fifth largest economy in 2019, reaching a total GDP size exceeding USD 3 trillion, and overtaking its former colonial ruler, the United Kingdom. By 2025, Indian GDP is also forecast to surpass Japan, which will make India the second-largest economy in the Asia-Pacific region," it said.

...While manufacturing sector's share in the GDP is still at 18 per cent against the target of 25 per cent, around 7.5 million persons are projected to join the Indian workforce per year on average over the next two decades.

...Since Prime Minister Modi took office in 2014, Indian GDP has increased by 50 per cent, from USD 2 trillion in 2014 to an estimated USD 3 trillion in 2019, a total net increase of USD 1 trillion in GDP in just five years.

[Cronos]

Impressive growth mostly through internal consumption (the same way the US grew) as opposed to external export-oriented (China's initial growth path)

[HighSierra5]

It’s still mostly a $hithole.

[mrsmith]

“...overtaking its former colonial ruler, the United Kingdom. By 2025, “
Far out!

And yes, internal consumption is much better, and secure, than exports.

[Catmom]

But it’s a freer s#!thole than China.

[ProtectOurFreedom]

LOL...7.74% annual growth as far as the eye can see! What economist made that projection? He finished his work before he finished his morning Darjeeling and took the rest of the month off.

[Cronos]

Not mostly - I was last there in 2015 - I had been there in the 90s in a charity helper role -- and outside the big cities (like Bombay etc.) that I avoid, it is gloriously beautiful

Like Goa

OR Cochin

Or the beautiful cave temples in Ajanta

Or their wildlife

Avoid the cities and the vast countryside is beautiful

[McGavin999]

That is gorgeous. Too bad countries are judged by their large cities.

[Governor Dinwiddie]

When I was a boy, "made in Japan" meant low quality junk.

Now India is jostling to revive that distinction. "Made in India"? No thanks.
 

[Governor Dinwiddie]

#6: "Like Goa "

Europeans visit Goa to use the nude beaches.

Indians visit Goa to watch the Europeans.
 

[Cronos]

And now made in Japan is a mark of quality. Ironic.

I think nearly all of Indias export prpducts go to Asian or African countries. So, as the parlance goes, South-South trade.

[Cronos]

That’s true. And India’s large cities have exploded in population. When I was in Bombay I saw quaint suburbs like the Catholic Bandra with its parks, single storey houses etc get swallowed up in a wave of concrete. I think that cities population jumped from a million to over 20 million, with the resulting strain on infrastructure.

The good thing from my selfish tourist point of view is that the countryside is emptier, especially their national parks with stunningly beautiful nature

[CurlyDave]

When I was a boy, "made in Japan" meant low quality junk.

Now India is jostling to revive that distinction. "Made in India"? No thanks.

Do not underestimate those people.

I remember well when Japan was synonomous with low quality, but they have come a long, long way.

China? I no longer sneer at the quality of stuff from China. Some is good, some is bad.

Look at the country of origin for most of the generic drugs in the US -- that's right, India. Just chock full of chemists and chemical engineers.

[Cobra64]

It is mostly a sh)thole. Only 30% of households have plumbing/toilets. You couldn’t pay me to visit that place. Google “Ganges River” and click Images. Then vomit.

[HighSierra5]

America is becoming a $hithole with all the BUMS and turd world interlopers crawling around. Nice.

[Savage Beast]

Yes, if Leftists succeed in turning America into a hellhole, the sane might flee to India.

[Born to Conserve]

I’ve bought a few things from Australia that wound up having come from India — horribly cheap and deceitful — worse than China.

[Antoninus]

But it’s a freer s#!thole than China.

Try being a Christian in India and see if you still think the same thing.

[Buckeye McFrog]

They’ve embraced capitalism in ways that other developing countries haven’t.

[SamAdams76]

It’s still mostly a $hithole.

Hey, you have to start somewhere. At least it's getting better.

I like to hear about other nations getting their act together - as it means less teeming masses trying to get to our shores.

[RightGeek]

Amazing what you can do with a 3rd world sh$thole when you dump socialism.