Never miss a story

Get subscribed to our newsletter


×
As China and the United States compete, India is likely to try to carve out a more independent role. Pixabay

While China will overtake the United States as the largest economy in the world by 2040, India will be a distant third contributor to the global GDP. This statistical prediction made by Oxford Economics has been published in the seventh edition of the US National Intelligence Council’s Global Trends report. The document, published every four years since 1997, assesses the key trends and uncertainties that will shape the strategic environment for the United States during the next two decades.

As per the report, India is going to double its contribution to the global GDP by 2040 at 6.1 percent from 3.1 percent in 2020. India in 2020 was at the sixth rank, globally but by 2040 will be the third-largest economy. The report said India will replace Japan in the global rankings.


Follow NewsGram on Twitter to stay updated about the World news.

Even as China and India are poised to be the largest contributors to the global GDP at 29 percent together by 2040, the standards of living or per capita GDP are likely to remain well below those of advanced economies. By 2040, developing countries in Asia are projected to account for approximately 35 percent of global GDP, with India and China as the largest contributors at 29 percent of global GDP, according to Oxford Economics.


India in 2020 was at the sixth rank, globally but by 2040 will be the third-largest economy. Pixabay

During the next 20 years, the world’s population will continue to increase every year, adding approximately 1.4 billion people to reach an estimated 9.2 billion by 2040, but the rate of population growth will slow in all regions. Population growth in most of Asia will decline quickly, and after 2040, the population will begin to contract. Although India’s population growth is slowing, it will still overtake China as the world’s most populous country around 2027, the report said.

ALSO READ: Canada Faces Sharpest Downturn in GDP Since 2009

However, the US Intelligence Council said, “India’s population size-projected to become the largest in the world by 2027 – geography, strategic arsenal, and economic and technological potential position it as a potential global power, but it remains to be seen whether New Delhi will achieve domestic development goals to allow it to project influence beyond South Asia. As China and the United States compete, India is likely to try to carve out a more independent role.”

India, the report said, “may struggle to balance its long-term commitment to strategic autonomy from Western powers with the need to embed itself more deeply into multilateral security architectures to counter a rising China. India faces serious governance, societal, environmental, and defense challenges that constrain how much it can invest in the military and diplomatic capabilities needed for a more assertive global foreign policy.” (IANS/JC)


Popular

Wikimedia Commons

Amitabh Bachchan, during his speech to the crowd of over 80,000 people at the Reliance Industries' annual event, said that the legacy left by Dhirubhai has had a positive impact on millions of people's lives worldwide.

Amitabh Bachchan is adored by the public for his unforgettable on-screen performances as well as his magnetic demeanour. Not only do fans love Amitabh Bachchan's outstanding performance, but the actor's heartwarming words are also highly regarded. A much moved Amitabh Bachchan, during his speech to the crowd of over 80,000 people at the Reliance Industries' annual event, said that the legacy left by Dhirubhai has had a positive impact on millions of people's lives worldwide.

When Bollywood superstar Amitabh Bachchan became bankrupt in the late 1990s, Dhirubhai Ambani stepped forward to give him financial assistance. In his speech, Bachchan remembered that Dhirubhai had sent Anil Ambani to offer him financial assistance during the crisis, which he had respectfully declined. Lenders began knocking on his door, losses mounted, and his bank account dwindled to nothing. He said, "Dhirubhai's money might have gotten me out of the problem quickly. However, I respectfully declined his offer and gradually began to find work again, which let me pay off my debt."

Keep Reading Show less
Photo by Xavier Mouton Photographie on Unsplash

Irrespective of the age of your child, it is vital for parents to offer that extra support and assistance following an unsettling event.

In comparison to adults, children are prone to getting traumatized by troubling events easily, and this makes it important for parents to help their children when the times are tough. It could be a brutal accident, an unprecedented pandemic, a violent crime, or other disasters but with the right parental support, children have a higher chance of coming out stronger from an awful situation.

Anuja Kapur, Psychologist shares few tips wherein you can assist your child when tough times comes calling:

Every child responds differently to disturbing events:
What children feel about a current disaster in their life and how they react to it can come and go in waves. Children can act moody and withdrawn at times, struck with sorrow and fear at other times. There's no absolute "right" or "wrong" way to feel after a traumatic event so make sure not to dictate what your child or how your child should feel and react to the event.

a boy crying tears for his loss Children can act moody and withdrawn at times, struck with sorrow and fear at other times. | Photo by Kat J on Unsplash

Keep Reading Show less
Photo by Andreas Haslinger on Unsplash

European consumers will be able to use a single charger for all their portable electronics - an important step to increase convenience and reduce waste.

The European Commission, the executive arm of the European Union (EU), has announced plans for smartphone and other electronics manufacturers to fit a common USB-C charging port on their devices in an effort to reduce waste. In addition to phones, the rules will apply to other devices like tablets, headphones, portable speakers, videogame consoles, and cameras, reports The Verge. The decision will have a huge impact on Apple, as the company still uses its own Lightning connector to charge iPhones. The proposals only cover devices using wired, not wireless and a USB-C port is only mandatory for devices that charge using a cable.

Different charging cables "Chargers power all our most essential electronic devices | Photo by Solen Feyissa on Unsplash

Keep reading... Show less