India is expected to overtake China as the world’s most populous country this year, and could become the third largest economy by 2028.
Even though its population growth has slowed to 1.2% since 2011, down from 1.7% in the previous decade, India’s population will pass China’s 1.4 billion sometime in 2023.
China’s demographic decline, with its decreasing and ageing population, combined with geopolitical tensions, could enable India, with its youthful, educated workforce, to supplant China as the “world’s factory”.
India’s economic growth of 5.5% over the last 10 years has already enabled it to overtake the UK as the fifth largest economy, and it is expected to pass Germany and Japan within the next 5 years according to the IMF.
