According to a recently released report by global consultancy firm PWC, India is slated to become over $ 44 trillion economy by 2050 which will position it at number two rank in the world in terms of purchase power parity.
“ The world economy could more than double in size by 2050, far outstripping population growth, due to continued technology-driven productivity improvements. Emerging markets (E7) could grow around twice as fast as advanced economies (G7) on average. As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th),” says the report. The US is projected to occupy the third rank while economic majors in European Union will see a considerable decline in their global influence.