The JCER predicts India will become the world's third-largest economy by2060 as itsservice sectorexpands. © Reuters
SUMIO SARUYAMA and KENGO TAHARA, JCER Long-Term Economic Forecast Team | India
In a long-term economic forecast covering 65 economies,Tokyo-based think tank the Japan Center for Economic Research has found thatChina and India will account for 35% of global gross domestic product in 2060, nearingthe U.S. and European nations' combined share.
China's share of the world's economy will be about 20% and India's nearly 16% in 40 years' time, up from 17% and 4% in 2019, respectively. The forecast sees China adding three percentage points to its share, while India's will increase fourfold thanks to a continuous tailwind from population growth.
