India: The Next Economic Superpower
from Economics Explained Hosted by Economics Explained
India is soon to be home to the largest population of citizens on the planet. And as of 2014, the nation will also hold the title of the fastest-growing major economy in the world (stealing the title from the slower-growing economy of China). This country has had an amazing journey to get to where it is today. And with the right political governance, it's very likely to become one of the world's most powerful economies very soon. But, it's not quite there yet. And in GDP terms, India's collective economy is still smaller than that of California. And while poverty is a very prevalent problem, India's certainly on the up and up. Throughout the past two decades, it has seen unbelievable levels of growth that has, among other things, pulled hundreds of millions of its citizens out of poverty
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