India to be 3rd largest economy by 2030: HSBC

03 Oct '18
1 min read

The Indian economy is projected to be worth $5.9 trillion taking the third rank by 2030 pushing behind Germany and Japan on account of rapid economic growth and a rising working-age population, according to a report by HSBC Holdings Plc. China will top at $26 trillion followed by the United States at $25.2 trillion in 2030, HSBC estimates.

India was seen as ‘among the most striking’ gainers in HSBC’s long-term rankings, according to a news agency report.

The economic growth rate was 8.2 per cent during the April-June period this year, topping the pace of the previous quarter and beating analyst expectations. This is the highest in over two years and strongest since the first quarter of 2016. (DS)

Fibre2Fashion News Desk – India

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