India will become Asia’s second largest economy in few years

Currently, India is the sixth-largest economy in the world, behind the US, China, Japan, Germany and the United Kingdom.
By 2030 when India’s GDP is projected to surpass that of Germany and the UK to rank as world’s No.3, the country is also likely to overtake Japan as Asia’s second-largest economy.
India’s nominal GDP measured in USD terms is forecast to rise from USD 2.7 trillion in 2021 to USD 8.4 trillion by 2030. This rapid pace of economic expansion would result in the size of Indian GDP exceeding Japanese GDP by 2030, making India the second-largest economy in the Asia-Pacific region. In fact, By 2030, the Indian economy would also be larger in size than the largest Western European economies of Germany, France and the UK.
The rapidly growing domestic consumer market as well as its large industrial sector have made India an increasingly important investment destination for a wide range of multinationals in many sectors,
including manufacturing, infrastructure and services Apart from this the digital transformation of India that is currently underway is expected to accelerate the growth of e-commerce, changing the retail consumer market landscape over the next decade..