India: The Emerging Energy Player

Chapter 7

 

1 Currently, the combined 2002 GDP of China, India and Japan are already half that of the United States in nominal terms. By 2015, the CIA’s long-term growth model has forecasted that the combined GDP of China, India and Japan would surpass that of the United States and the EU at US$19.8 trillion, $14 trillion and $11.6 trillion, respectively in 1998. By 2050, Goldman Sachs has projected that the situation will become even more astounding with the combined GDP of China, India and Japan slightly more than twice that of United States and about four times that of Russia, the United Kingdom, Germany, France and Italy combined in 2003. In 2050, the largest economies in the world will be China, United States and India, with Japan a distant ...