India's Economic Ascent: Surpassing Germany and Japan

NITI Aayog CEO B V R Subrahmanyam predicts that India will surpass the economies of Germany and Japan within three years and possibly become the second-largest economy by 2047. Emphasizing India's democratic advantage, he discusses the potential for transforming India into a global education hub.

NITI Aayog CEO B V R Subrahmanyam has projected a promising future for India's economy, anticipating it will surpass those of Germany and Japan in the next three years. Addressing an event, he outlined that by 2047, India could become the world's second-largest economy, with an estimated GDP of USD 30 trillion.

Subrahmanyam emphasized India's unique democratic edge and its potential to become a global educational hub, urging Indian businesses and firms to aspire for global leadership. He highlighted the distinct challenges faced by middle-income countries, focusing on India's transition to a knowledge-driven economy.

Discussing global demographic shifts, Subrahmanyam pointed out that India will emerge as a stable provider of working-age individuals, contrasting with nations facing population declines. He cited examples of Japan and Germany, which are increasingly reliant on Indian healthcare workers due to a shrinking labor force.

(With inputs from agencies.)