“Bharat in the World Economy — Its rise after a thousand years of decline”, Swarajyamag, April 29, 2024:
“Bharat’s nominal GDP is set to hit USD 4 trillion in 2024-25. With Japan’s economy now valued at USD 4.1 trillion — reflecting a sharply weaker JPY — India is now tantalisingly close to becoming the world’s fourth-largest economy in dollar terms within a year.
Germany’s nominal GDP is valued at USD 4.6 trillion and is growing relatively slowly. So, it is now reasonable to expect Bharat to replace Germany as the world’s third-largest economy by 2026-27. All of these projections are based on the assumption that no unexpected shock impacts the calculations, with the threshold levels indicating that it will now take a very big hit to significantly throw off the trajectory.
Of course, even as the world’s third-largest economy, Bharat will still be poor in per capita terms but sheer bulk does provide advantages that can be leveraged. While we celebrate Bharat’s economic rise, it should be remembered that Bharat was a major economic power for much of history. Therefore, it is worth revisiting the longer cycle in order to appreciate what we are currently witnessing…..”
Read the full article at Swarajyamag.com
