India to be $26 trillion economy by 2047-48:EY projects
India will become a US $26 trillion economy by 2047-48, according to the The EY projects (Ernst & Young) global economic outlook and a report titled “The Future of India: The next cycle of reforms,” released on Monday.
India’s economy will grow to $26 trillion by 2040, up from its current size of $22 trillion, according to the latest EY report. The country is set on continuing the impressive growth trajectory that has seen it become one of the most competitive economies across the globe.
India is expected to become the seventh largest economy by 2047, with an annual GDP of $26.2 trillion. Its by 2047-48 – boosted by a sharp real growth rate from 2022 onwards.
India’s gross domestic product (GDP) is likely to overtake the US by 2047-48, according to an Ernst & Young (EY) report. The US economy will remain the biggest in the world in 2030, but its economic ascendancy is set to end.
The EY Global Economic Forecast projects that India’s economy will grow to US$26 trillion in 2030, from US$17 trillion today
When we look at our legacy forecasts back to 2010 and compare them with their results today. we see that our projections for the next decade are well aligned with reality.
This projection, which incorporates current predictions and expectations as well as client views on how these might change in the near term. It makes India’s future growth profile virtually impossible to model or predict.
India is set to become the world’s third-largest economy. It will be the second-largest in Asia by 2031, according to a report by EY. But how big? Here are the numbers.
EY has been advising and supporting Indian companies, financial institutions.
And the government on their transformation processes for over 80 years. We work with our clients to provide long-term strategic advice on how to grow faster, create lasting value, and deliver sustainable competitive advantage.
As the world’s fastest-growing large economy and its second-largest contributor to global GDP. India is on track to become a US$26 trillion economy by 2050. And EY believes that while the country still faces challenges. And Its economy will continue to thrive and outperform its peers in the years to come.
India to be $26 trillion economy by 2047
India is one of the fastest-growing economies as well as a large importer of goods, services, and capital. As per the latest estimates by EY. The country is expected to become a US$26 trillion economy. Its by 2047-48, overtaking the United States and Japan.
EY’s India team, working closely with our country partners to meet the growing needs of our clients. It is committed to growing the business in India. We research opportunities, proactively identify clients and partners. Who can support those opportunities, and develop custom solutions for all clients in a timely and efficient manner. EY Projects India’s project profile highlights the historic growth in the Indian economy. The country’s progress toward becoming a trillion-dollar economy.
And it also aims to show how EY is transforming itself to support these goals. Ultimately creating an environment where its clients can also flourish. The key driver of this growth is likely to be innovation. And its delivery through a digital currency.
Most Reputed Names of Corporate Consultancy- EY Projects
EY Projects India is one of the most reputed names in corporate consultancy. They provide the best advice to organizations across industries based on their industry experience. EY manages more than 3,2 million people in more than 150 countries. But It has a global network of over 160,000 employees and 200 offices across India. They offer a wide range of services including financial advisory services, consulting services, and tax audit services.
EY Projects India Profile
EY Projects India Profile is a study on the increase in investment in the Indian economy. Which has recently been recognized for its emergence as one of the world’s fastest-growing economies. The study provides an overview of the S&P 500 Index. An index to measure the performance of US stocks over time. There is a lot of potential for growth in India. With an average per capita income of US$ 1,900 and an estimated population of 1.3 billion. India’s economy is expected to grow US$ 19 trillion.
Its by the end of 2047 – that’s more than $\ 26 \ 10^{9}$ (US$ 26 trillion). EY has forecast that India’s economy will grow to US$26 trillion by 2047-48, up from $22.3 trillion today. And Making it the third largest in emerging Asia and the 14th largest economy globally.
Also, India is the next oil and gas major and the auto industry’s gateway. With a population of 1.3 billion. India must become a US$26 trillion economy, by 2047-48,. Rising from its current size of $21 trillion. The country will be home to one in three people on the planet by 2073 from 12% currently. And this percentage will continue to rise even further in the next 50 years.
