India is projected to become the third largest economy by 2050, according to a study in Lancet journal. India will hold the position next to U S and China, the journal added.
The study took 2017 as the base year when India stood at the seventh position in economy. It said that India would move to the fourth position in 2030. Now the country stood at the fifth position. France and the UK come next in line
The Lancet said that India will maintain its third position in 2100 also. The journal made the calculation taking into account working-age population of countries into scenarios for GDP.
The Lancet further noted that China and India will face a huge decline in working-age population. And India will be at the top spot, it said. However, the magazine noted that Nigeria will also have an increase in working-age population.
Australia and Israel will rise up in global rankings by GDP because of increase in immigration. Japan will see a sharp decline in working-age population, it said.
Another thing pointed out is that population will slow down due to more access to contraception and continued trends in female educational attainment.
