Chapter Eleven: The economy
The emergence of a powerful middle class is likely to keep the country’s economy on an upswing. It is India’s formidable growth engine. In a decade India’s economy should be bigger than the UK’s; In 20 years bigger than Japan’s and by 2050 it should overtake the economy of the US.
The UN has projected that India’s population will increase by around 310 million up to 2020. Between 2010 and 2020 India will create the equivalent of the combined working population of France, Germany, Italy and the UK. It is estimated that another 140 million people will migrate to the Indian cities by 2020. By 2025 the Indian middle class should swell to around 583 million people and the country’s consumer market grow from the twelfth ...