{"id":68604,"date":"2025-08-29T03:34:20","date_gmt":"2025-08-29T03:34:20","guid":{"rendered":"https:\/\/mavericknews30.com\/?p=68604"},"modified":"2025-08-29T03:34:21","modified_gmt":"2025-08-29T03:34:21","slug":"india-set-to-become-second-largest-economy-by-2038-says-ey-report","status":"publish","type":"post","link":"https:\/\/mavericknews30.com\/?p=68604","title":{"rendered":"India Set to Become Second-Largest Economy by 2038, Says EY Report"},"content":{"rendered":"\n<p><em>Aug 2025 :<\/em> India\u2019s economy is on a fast track to global dominance, with the latest EY <em>Economy Watch<\/em> report projecting a rise to <strong>$20.7 trillion by 2030<\/strong> and potentially <strong>$34.2 trillion by 2038<\/strong>. The surge is fueled by strong fundamentals, demographic advantage, and sustained structural reforms.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"360\" height=\"360\" src=\"https:\/\/mavericknews30.com\/wp-content\/uploads\/2025\/08\/image-514.png\" alt=\"\" class=\"wp-image-68605\" style=\"width:140px;height:auto\" srcset=\"https:\/\/mavericknews30.com\/wp-content\/uploads\/2025\/08\/image-514.png 360w, https:\/\/mavericknews30.com\/wp-content\/uploads\/2025\/08\/image-514-300x300.png 300w, https:\/\/mavericknews30.com\/wp-content\/uploads\/2025\/08\/image-514-200x200.png 200w\" sizes=\"auto, (max-width: 360px) 100vw, 360px\" \/><\/figure>\n<\/div>\n\n\n<p>Currently, India is the world\u2019s <strong>fourth-largest economy<\/strong> with an estimated nominal GDP of <strong>$4.19 trillion<\/strong>. With a youthful population (median age 28.8 years), high savings and investment rates, and a steadily declining debt-to-GDP ratio\u2014expected to fall from 81.3% in 2024 to 75.8% by 2030\u2014India is poised to outpace major global economies. The report suggests the country could emerge as the <strong>second-largest economy within the next 13 years<\/strong>.<\/p>\n\n\n\n<p>Comparatively, China is projected to achieve a GDP of <strong>$42.2 trillion (PPP) by 2030<\/strong>, but faces constraints from an ageing population and mounting debt. The U.S. continues to show resilience, though high public debt exceeding 120% of GDP and slower growth remain concerns. Germany and Japan, despite their advanced economies, grapple with demographic challenges and dependence on global trade.<\/p>\n\n\n\n<p>India\u2019s transformation is underpinned by <strong>structural reforms<\/strong> such as GST, the Insolvency and Bankruptcy Code, UPI-led financial inclusion, and Production-Linked Incentive schemes that are strengthening industrial competitiveness. According to EY, India will surpass Germany by 2028 to become the <strong>third-largest economy at market exchange rates<\/strong>.<\/p>\n\n\n\n<p>Even external headwinds, like potential U.S. tariffs impacting 0.9% of GDP, are unlikely to derail momentum. Robust domestic demand and diversified exports are expected to restrict the slowdown to a minimal <strong>0.1 percentage point<\/strong>.<\/p>\n\n\n\n<p>With reform-driven growth and demographic strength, India is charting its path toward becoming a global economic powerhouse by the mid-21st century.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aug 2025 : India\u2019s economy is on a fast track to global dominance, with the latest EY Economy Watch report projecting a rise to $20.7 trillion by 2030 and potentially $34.2 trillion by 2038. The surge is fueled by strong fundamentals, demographic advantage, and sustained structural reforms. Currently, India is the world\u2019s fourth-largest economy with &hellip;<\/p>\n","protected":false},"author":10,"featured_media":68606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[83],"post_format":[],"flags":[],"class_list":["post-68604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bd-business","tag-business"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mavericknews30.com\/index.php?rest_route=\/wp\/v2\/posts\/68604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mavericknews30.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mavericknews30.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68604"}],"version-history":[{"count":1,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=\/wp\/v2\/posts\/68604\/revisions"}],"predecessor-version":[{"id":68607,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=\/wp\/v2\/posts\/68604\/revisions\/68607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=\/wp\/v2\/media\/68606"}],"wp:attachment":[{"href":"https:\/\/mavericknews30.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68604"},{"taxonomy":"post_format","embeddable":true,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=%2Fwp%2Fv2%2Fpost_format&post=68604"},{"taxonomy":"flags","embeddable":true,"href":"https:\/\/mavericknews30.com\/index.php?rest_route=%2Fwp%2Fv2%2Fflags&post=68604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}