India to surpass US to become world's second-largest economy by 2075: Goldman Sachs

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Rep. Mike Lawler, R-N.Y., discusses U.S. tech titans attending the state dinner for India Prime Minister Narendra Modi and China's rising aggression.

India's economy is on track to surpass the United States' and become the second-largest in the world behind China in a matter of decades, according to forecasting by Goldman Sachs Research.

The investment bank's analysts issued a report last week that projects India will knock the U.S. into third place by 2075, when the Asian nation is expected to reach gross domestic product of $52.5 trillion, which is 1 trillion dollars higher than America's GDP level is expected to reach at that time.

President Biden, left, and Narendra Modi, India's prime minister, toast during a state dinner at the White House on June 22, 2023. (Al Drago / Bloomberg via Getty Images / Getty Images)

According to the data, China will pass the U.S. to become the world's largest economy sometime in the 2030s, and the communist country will have a GDP of $57 trillion by 2075.

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Santanu Sengupta, Goldman Sachs Research's India economist, said in the report that the nation's population – which recently became the world's largest at 1.4 billion – positions it well for growth because it has one of the best ratios between its population of working-age people versus its non-working or dependent population like children and the elderly.

An engineer works on a component at a Godrej Aerospace manufacturing plant in Mumbai, India, on July 10, 2023. Goldman Sachs projects India's economy will become the second-largest in the world by 2075. (Punit Paranjpe / AFP via Getty Images / Getty Images)

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