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India to be 3rd Largest Economy by 2028: HSBC
September 19, 2017
According to a recent HSBC report, India is projected to surpass Germany and Japan in terms of economic growth and take the position of the 3rd largest economy in the world within the next 10 years. However, it’s contingent on it being consistent in reforms and focusing more on the social sector.
British brokerage HSBC said that India must also try to work on the “ease of doing business” in the country. However, macro stability and demographics continue to be some of its key strengths.
The report estimates India to be a USD 7 trillion economy by 2028, while Germany and Japan will stay at USD 6 trillion and USD 5 trillion, respectively.
