India's economy will beat the US in size by 2075, thanks to its tech scene and growing population, Goldman Sachs says
have hailed the Asian nation as the next biggest investing opportunity. Even major companies including Apple, Tesla and SpaceX have leaned into the emerging economy as a hub for its supply chains instead of China."India has made more progress in innovation and technology than some may realize," Santanu Sengupta, Goldman Sachs's chief India economist, said."Innovation and increasing worker productivity are going to be important for the world's fifth-biggest economy.
"Driven by favorable demographics, India's savings rate is likely to increase with falling dependency ratios, rising incomes, and deeper financial sector development, which is likely to make the pool of capital available to drive further investment," he said. India's Prime Minister Narendra Modi has been a cheerleader for capital expenditure, recently urging the nation's private sector to boost investment and take advantage of the nation's 2023-24 budget,Lastly, India has the opportunity to turbocharge its GDP by integrating its growing population into the labor force.
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