Modi’s India will outperform US economy by 2030

The Indian economy with current rate of economic growth will likely outperform the United States economy in real GDP terms by 2030.

A report by DBS bank noted that India will be among 10 major Asian economies that shall achieve this feat by surpassing USD 28 trillion (aggregate).

The other economies include China, South Korea, Singapore among others.

The report said that Asia-10 economies will experience robust growth to over USD 28.35 trillion in real GDP terms compared to USD 22.33 trillion of the United States.

The DBS report also noted that India will need to work harder to employ its burgeoning youth.

“We expect Asia-10 to pull ahead of the US by 2030,” DBS said, but observed that it’s neither sufficient nor a necessary condition to invest in Asia since investing cannot be based on a single indicator, especially in a long-term horizon.