By 2030, India to become 3rd largest economy: PwC

As per the latest estimates by PricewaterhouseCoopers (PwC), India will become the third largest economy in the world by 2030. According to the London-based accountancy giant, the rapid rise of the Indian economy with its young workforce would thrust it up from being the 10^th largest economy in 2013 to the 3^rd largest by 2030, pushing the UK back into 6^th place.
By 2030, as per PwC, the world’s second largest economy- China is expected to reduce the gap with the US. Mexico is forecasted to be the 10^th largest economy above Canada and Italy, both G7 nations. A few years back there were predictions that Britain would rapidly become a second-class economic power and would need to defer to the BRIC (Brazil, Russia, India and China) countries in the near future.

Month: Current Affairs - July, 2014