Goldman Sachs published a report predicting that India would overtake the U.S. to become the second-biggest economy in the world. According to the data, India’s GDP would reach $52.5 trillion in 2075, while the U.S. GDP would be $51.5 trillion. India would be ahead by $1 trillion in GDP compared to the U.S. 52 years from today. The forecast said that China will be the biggest economy with a GDP of $57 trillion. India and China are BRICS countries and their economies will be much ahead of that of the United States and other Western nations.
The U.S. will fall to the third spot below China and India in the next five decades, according to Goldman Sachs. The BRICS nations combined will be a financial superpower as its GDP would cross above the $100 trillion threshold. The report suggested that the American economy will decline giving space to China and India to move up the ladder.
BRICS GDP To Reach $128.4 Trillion, Ahead $76.9 Trillion From U.S. GDP
According to Goldman Sachs, the BRICS alliance GDP would reach $128.4 trillion in 2075. BRICS is an acronym for Brazil, Russia, India, China, and South Africa. Below is the break up of BRICS GDP in 2075 predicted by the investment bank country-wise.
- Brazil: $8.7 trillion
- Russia: $6.9 trillion
- India: $52.5 trillion
- China: $57 trillion
- South Africa: $3.3 trillion
BRICS GDP total – $128.4 trillion
On the other hand, the U.S. GDP is projected to reach $52.5 trillion and is below China and India. The global financial power could tilt to China, India, and the other BRICS nations in the next five decades. In conclusion, the overall BRICS GDP will be ahead by $76.9 trillion than that of the U.S. GDP. Read here to know how many sectors in the U.S. will be badly affected if BRICS launch their new currency.