By – Jawahar Mishra
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India is going to overtake America soon! India will compete with China for supremacy. These reports from various economic institutions of the world must be hurting the heart of US President Trump, who is now fiercely anti-India.
According to the EY report, India could overtake the US in terms of purchasing power parity (PPP) to become the world’s second largest economy in the coming years. Detailed information on this is provided here.
India to take a big leap by 2030
According to a report, the Indian economy could reach $20.7 trillion by 2030 on a purchasing power parity (PPP) basis, or about Rs 1,800 crore in Indian rupees. This shows India’s strength among the world’s best economies.
What is India’s current figure?
The report shows that India is currently the world’s third largest economy after China and the US on a purchasing power parity (PPP) basis. If India’s current growth rate continues, the US will soon fall behind.
The GDP data for the financial year 2024-25 is shown here.
India’s GDP (PPP) in 2024-25 was $1.42 trillion, which is about 3.6 times higher than GDP measured at market exchange rates. India could soon overtake the US to become the world’s second largest economy.
The goal of Developed India 2047
. Indeed, India is moving towards the dream of ‘Developed India 2047’ by increasing its capacity in new technologies and focusing on sustainable development, which will strengthen India’s position in the coming decades.
Risk of US tariffs on India
The report also said that if the US imposes a 50% tariff on India, then its impact on GDP could be up to 0.9%. However, with appropriate policies, this impact can be reduced to a large extent.
Possibility of limiting the impact
If the government takes policy steps, then the impact of these tariffs on GDP can be limited to only 0.1% and the country’s growth will come down from 6.5% to just 6.4%.
What will be the impact on the export sector?
The high US tariffs will affect Indian exports worth over $48 billion, which include textiles, diamonds and jewellery, shrimp, leather, footwear, chemicals and machinery. The pharmaceutical, energy and electronics sectors will be exempted from this.
A review of this report shows that the US tariff attack cannot harm India much, if India takes the right steps in this direction. The Modi government has also been working in this direction silently. To revive the Indian economy due to the high US tariffs, the Modi government has been working in that direction by insisting on trade agreements with other countries. If this trend continues, the findings of the EY report will be correct and India can surpass the US to become the second largest economy in the world in the coming days.
