India to Surpass US by 2075 to Become World’s Number 2 Economy: Report

New Delhi: Emboldened by its over 140 crore population, the GDP of India is expected to soar high and it will become the world’s second-largest economy by 2075, said a research report by Goldman Sachs. Santanu Sengupta, Goldman Sachs Research’s India economist is of the opinion that India’s key to utilise the potential of its growing population is to boost participation within its labour force and training and skilling its talent pool.

The report pointed out that India’s population has one of the best ratios between its working-age population and its number of children and elderly.

As per the report, India’s large population “is clearly an opportunity”. But this labor force has to get absorbed and simultaneously trained and upskilled, the report added.

The report warned that India’s big opportunity may be lost if its labour force participation does not increase. The women’s labor force participation rate is significantly lower than men’s in India, the report said.