‘By 2030, we’d probably be the third largest economy’: EAM Jaishankar

NEW DELHI: External Affairs Minister S Jaishankar while speaking at World Summit 2024, organised by a media house: The India Century on Monday said that a Goldman Sachs study predicted that by 2030, India is poised to become the third-largest economy in the world.

Jaishankar said that Godman Sachs’s study predicted that India would be a USD 52.5 trillion economy by 2075.

Speaking about the theme: ‘The India Century’, the EAM said, “If one were to predict ahead, and there are people who have done this, I saw some time ago, Goldman Sachs study which said that by 2075, we would be USD 52.5 trillion economy, we’d be second largest at that point in the world. But, much nearer, short-term prediction is that by 2030, we would probably be the third largest economy.”

India, which was a decade ago the 10th largest economy in the world, is currently the fifth, likely to be the third by the end of the decade.
Jaishankar further highlighted India’s talent and skill which is growing almost day by day and said that Europe and North America want smooth movement of talent and skills out of India because the country’s demography is disproportionately large.

“I think there are other ways that may be more effective. If you look at big debates on technology, AI, and semiconductors, the importance of Indian talent and skill is growing almost day by day. When I go to Europe and North America, there’s a lot of interest really in how can we get this smooth movement of talent and skills out of India because the fact is that within certain demographics, we are actually disproportionately large. If we look beyond numbers, beyond growth rates, beyond markets, supply chains, there is an intangible quality, that is leadership and attitude, that who will step forward? If you have today a war going on in Ukraine, who is prepared to step forward? If you have a natural disaster in the Indian Ocean, who is prepared to step forward? Sometimes there may be countries who have capabilities but they don’t have the desire or the appetite or the mindset to do that anymore,” he said.

Earlier in the day, Jaishankar met MPs from Australia and Germany.

https://x.com/DrSJaishankar/status/1848310671496073630

In a post on X, he said, “Pleased to interact with MPs from Australia and Germany, today in Delhi. We exchanged views on FDI, technology, supply chains, maritime security, the Indo-Pacific and Ukraine.” (ANI)