India to become the 2nd largest economy in APAC by 2025
India is likely to catapult itself to the position of the 5th largest economy this year and outperform United Kingdom, reaching a total GDP size exceeding US$ 3 trillion. It will also surpass Japan as the 2nd largest economy in APAC by 2025, according to IHS Markit. Furthermore, around 7.5 million people are expected to join India’s labour force evey year over the next two decades.
The re-election of Prime Minister Modi as the Prime Minister of India is also being seen as a positive development for the country’s growth. In the light of these trends, India will also play an increasingly important role as one of Asia-Pacific’s major economic growth engines and also a significant contributor to the global GDP.
