India’s GDP on PPP basis can rise seven-fold by 2050: PwC
China, however, would lead the pack of economies, with its expected GDP touching $53.85 trillion by 2050, while Brazil could pip Japan as the world's fourth-largest economy, said the study by PwC chief economist John Hawksworth.
“And by the same time, Russia, Mexico and Indonesia could be bigger than Germany or the UK; Turkey could overtake Italy; and Nigeria could rise up the league table, as could Vietnam and South Africa in the longer term,” said the study titled 'World in 2050 The BRICs and Beyond: Prospects, challenges and opportunities'.
In general, the GDP at the purchasing power parity is a gauge for average living standards or volumes of output or inputs.
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