Goldman Sachs has predicted the Indian financial system and market shall be among the many prime globally by 2050 and even surpass the US by 2075.
In a report titled, The Path to 2075-Capital Market Dimension and Alternative, the US-based funding financial institution mentioned the expansion in Rising Markets (EM) will proceed to outpace that within the developed market, with 7 of the highest 10 world economies changing into EMs by 2075.
“We anticipate EM progress to proceed to outstrip DM over the rest of this decade (3.8 per cent versus 1.8 per cent). In 2050, we venture that the world’s 5 largest economies shall be China, the US, India, Indonesia, and Germany. By 2075, China, the US, and India are prone to stay the three largest economies and, with the correct insurance policies and establishments, seven of the world’s prime ten economies are projected to be EMs,” mentioned Jan Hatzius, chief economist and head – International Funding Analysis at Goldman Sachs. Because of the superior financial progress, EMs and Indian capital markets are anticipated to develop in stature over the approaching many years.
Altering pegging order: Goldman’s projections suggest India shall be forward of the US by 2075
First Revealed: Jun 24 2023 | 12:15 PM IST