Super-cycle: Standard Chartered says India likely to become 3rd largest economy by 2030

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India is likely to become the third largest economy by 2030 behind China and the USA (Reuters) India is likely to become the third largest economy by 2030 behind China and the USA (Reuters)
SummaryIndia is likely to be the third largest economy with a GDP size of USD 15 trillion by 2030

Global growth is set to average 3.5 per cent for 2000-30, well above the 3 per cent rate for 1973-2000," it said.

"Recent pessimism about emerging markets is overdone. Concerns over the middle-income trap, excessive Asian leverage, 'broken' growth models and rising US interest rates appear exaggerated," Standard Chartered Global Head of Macroeconomic Research John Calverley said.

Calverley further added that "while we have lowered our long-term forecasts for China, India and Europe, the case for an emerging markets-led super-cycle still holds. Successful reforms will be critical for these economies to realise their catch-up potential."

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