According to the estimate by the US department of Agriculture Economic Research Service (USDA-ERS), the Indian economy will gradually increase up to $6.84 trillion by 2030. In this way, the country will have the third largest economy on a global level over Japan and Germany. Measured by GDP, sub-continent currently forms the sixth largest economy in the world (source: Wikipedia).
The US government agency has projected the estimation of the economy of four highly developed nations of the world such as Britain, Germany, France and Japan. For estimating the economic condition of highly developed countries, required data has been collected by IMF and World Bank.
The annual economic output of India will be double than the economy of France and Britain in the next 15 years.
The reason of this estimated boosting the economy is beneficial activities of the fast growing population which help the country to space well-developed countries. Christine Lagarde, the managing director of International Monetary Fund has coined India as a ‘bright spot’ in a repetitive manner. In this way, the country has been forecasted to surpass Germany as the third largest within 15 years.
The projection of Indian economy has been done by Niti Aayog that the projected economy of the company will grow at the rate of 8% per annum in upcoming years. The day by day increasing demand of electronic goods, houses, cars, and gadgets is the result of increasing aspirations.
Being one among the countries with the largest economy will be a great achievement for India. Government under Narendra Modi has laid the platform for fast economical growth. His ‘Digital India’, ‘Make in India’ campaign are it’s driving forces.