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News Flash:Assembly Elections in Assam, Tamil Nadu, West Bengal, Kerala and Union Territory of Puducherry
'India could be world's 3rd largest economy by 2030'
Global banking giant Standard Chartered today said India could emerge as the world's third largest economy by 2030, benefiting from strong domestic demand and favourable demographics.
However, the banking entity noted that country's reform agenda need to be sustained for achieving high growth.
"India has the fundamentals to emerge a winner in the super-cycle, potentially becoming the world?s third-largest economy by 2030... India is likely to grow faster, on average, than China over the next two decades," Standard Chartered Global Research said in 'India in the Super Cycle.
In 2010, the world's major economies were USA (USD 14.6 trillion), China (USD 5.7 trillion) and Japan (USD 5.4 trillion). India did not figure among the top ten, as per International Monetary Fund data.
By 2030, StanChart said India will be at number three position with an economy of USD 30.3 trillion, behind China (USD 73.
(Press Trust of India)
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