Workers handle dyed and printed fabric during the manufacturing of Lakshmipati Sarees brand garments at the Siddhi Vinayak Knots & Prints Ltd. factory in Surat, Gujarat. (Photographer: Karen Dias/Bloomberg)

India Set to Overtake Japan as No. 3 Economy by 2030

India Set to Overtake Japan as No. 3 Economy by 2030

(Bloomberg) -- Fresh off its climb to No. 6 in the world as of 2017, India’s economy is forecast to take the No. 3 spot by 2030, according to a report by HSBC Holdings Plc. The South Asian giant was seen as “among the most striking” gainers in the bank’s long-term rankings, leap-frogging Germany and Japan largely on account of the economy’s rapid growth and a rising working-age population that’s the envy of an aging developed world. China is set to edge out the U.S. as they retain the top two spots in 2030 at $26 trillion and $25.2 trillion, respectively, with India taking the third spot at $5.9 trillion, according to HSBC estimates.

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