India will become the World's 2nd-largest economy by 2075, overtaking the United States (per Goldman Sachs $GS)
The investment bank said that India's population, which is expected to reach 1.6 billion by 2050, will be a major driver of growth. India's labor force is also expected to grow by 200 million people over the next 50 years, which will provide a large pool of workers to fuel economic growth.
In addition, Goldman Sachs said that India's progress in technology and innovation will also be a major driver of growth. The country is already a major player in the IT and software sectors, and Goldman Sachs expects that India will continue to develop its technological capabilities in the coming years.
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