As per report prepared by Standard Chartered’s global research team that China is likely to grow at a 6.9% rate over the next two decades, India is likely to grow at a pace of an average 9.3% over the same period and trail the US as the third-largest economy by 2030. China may also overtake the US to become the world’s economic superpower within a decade. It sees the world economy reaching $308 trillion by 2030. Within this, China will be a $73-trillion economy and India will be a $30-trillion economy, based on its growth and inflation forecast. At present, India is slightly over a trillion-dollar economy. It has assumed that the Chinese yuan will have appreciated from 6.64 this year to 4.39, and the rupee from 45.5 this year to 35 in 2030.
There has been similar reports by Goldman Sach, Pricewaterhouse etc. predicting that India will become the third largest economy in the world by 2030.
