Current Affairs - Miscellaneous - Discussion

IHS Markit, a global information provider, in its report mentioned that India will surpass Japan to be the world's third largest economy in 2025 and it will overtake the United Kingdom (UK) to become the fifth biggest economy in 2019. Indian Gross Domestic Product (GDP) is predicted to reach $5.9 trillion in 2025 surpassing Japanese GDP. The size of the Indian consumer market is forecasted to increase from $1.9 trillion in 2019 to $3.6 trillion by 2025. The critical strategy for creating value-added and skilled jobs growth is to accelerate the development of new economy startups and growing new unicorns. India's population growth rate is projected to slow rapidly over the next two decades.