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India to be the third biggest economy by 2030

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By Newsgram Staff Writer

Leaving the US behind, India will be ranked as the third most powerful economic country in the world by 2030.

According to the US Department of Agriculture’s latest macroeconomic projections, the US will see its decline in shares by 20 percent and will be left just as the global leader with $24.8 trillion in annual output of the country worth 25 percent of the world economy in 2006 and 23 percent in 2015.

Fifteen years from now, the US will be far less dominant, several emerging markets will go down and some of the largest European economies will be left behind.

“Among all the developing countries, India will be the bright spot in the global landscape. The country will have the largest workforce in the world within the next 15 years,” said the International Monetary Fund.

“There are lots of uncertainties as China growing at 4% or 6% is not making that mark where India’s growth at 3 percent or 8 percent makes a huge differences when you compound them over long periods of time,” said Bruce Kasman, JP Morgan’s chief economist.

Currently, India is at the eighth rank following Brazil, the United Kingdom, France, Germany and Japan in economy.

Next Story

Australian Open 2020 Staff Wears Recycled Polyester T-Shirts From India

Tirupur Connection has been making apparel from the recycled fiber blended with waster cotton for a while and was kind enough to share these resources with the Australian Open

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It seems like the Australian Open is one of the first championships to take this movement seriously enough to bring about actual changes. In AO 2020 all the staff is wearing recycled polyester coming from India. Pixabay

The Australian Open 2020 will last until February 2, but this championship has already turned out to be extremely interesting and rich in top news and unique interesting facts specific to this year. While the players and the outcome of the matches are the most important part of every single tournament, it is equally important that the championships and people who make them happen are working on improving themselves every year.

The sustainability movement has been growing this past year and the talk about promoting more ethical and climate-friendly practices has become more frequent. People now expect that the companies they work for or support will have the necessary regulations and will follow sustainable practices. The companies hosting and organizing important sporting events are no exception. In fact, the pressure us on powerful firms and enterprises to take action and become leaders in this direction. This attitude will likely become even more common among big companies and championships and we will see that as a normal thing soon enough but before that can become a reality Australian Open 2020 decided to take the first step.

Promoting ethical practices

It seems like the Australian Open is one of the first championships to take this movement seriously enough to bring about actual changes. In AO 2020 all the staff is wearing recycled polyester coming from India. Tirupur connection is the company behind these t-shirts and it is a Tirupur based company that has contributed 25,000 100% recycled polyester garments to Australia. The t-shirts are made specifically from Polyethylene Terephthalate bottles, something that the company specializes in. Tirupur Connection has been making apparel from the recycled fiber blended with waster cotton for a while and was kind enough to share these resources with the Australian Open. AO is setting an example of how to promote ethical practices not only by talking about the necessity of change but also through their actions.

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The t-shirts for Australian Open are made specifically from Polyethylene Terephthalate bottles, something that the company specializes in. Pixabay

Not only will this move promote the Australian Open as a tournament that cares about the environment, it will also send a message that the championship cares enough about its fans to listen to their concerns. 

Responsibility of big companies

Tournaments like these have the power to send important messages to all the people watching. AO decided to actually do what other companies and tournaments are preaching and to promote sustainability through that actually work. It is very important that these big companies and entities take the first step towards making a change since they are most likely the ones in power to actually be able to afford such major changes. The fact that fully recycle clothing is easily accessible is an important factor to promote.

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And while there are sustainable brands in Australia as well the country and the championship decided to support India on this one. This is also a very gracious move on the tournaments part and will likely earn it even more sympathy.