India is projected to surpass China in its share of global gross domestic product (GDP) by 2060, according to a report from the World Inequality Lab (WIL). The research laboratory, based at the Paris School of Economics (PSE), focuses on studying inequality worldwide and released the findings recently.
Key Findings of the Report
The report highlights a significant shift in global economic power, with India expected to overtake China as the largest contributor to global GDP growth in the coming decades. This projection is based on current demographic trends, economic policies, and growth trajectories. India's young population and expanding workforce are seen as key drivers, while China faces an aging population and slower growth.
Implications for Global Economy
If the projection holds, India would account for a larger share of global output than China by 2060, reshaping international trade, investment flows, and geopolitical dynamics. The report also notes that inequality within both countries remains a challenge, and inclusive growth will be crucial for sustainable development.
The World Inequality Lab's analysis underscores the need for policies that promote equitable distribution of wealth alongside economic expansion. As India rises, addressing disparities in income and opportunity will be essential to ensuring that growth benefits all segments of society.
