India to change the world... to become the third largest economy

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- Companies around the world are reducing their dependence on China. This will directly benefit India

The world is living in the fear of recession but the International Monetary Fund has shown a positive attitude towards the Indian economy. Experts say that India is fast moving towards becoming the third largest economic power in the world. The Eurasia Group has said in a report that India is going to emerge as a superpower in the near future. India, the world's largest democracy, is going to become the world's third largest economy. He says that the year 2023 will be remembered for India emerging as the third pole of the world. India's rise will give it new power in international politics. India will benefit from the world's efforts to reduce US-China isolation and dependence on China.

2023 will be a memorable year for India emerging as the third pole of the world. This year will probably be remembered for India's emergence as the most populous country in the world. According to United Nations, last year China's population was 1.426 billion while India's population was 1.417 billion. In July, the United Nations predicted that India would overtake China in terms of population in 2023.

According to United Nations estimates, India's population will be 1.6 billion by 2050, while China's population will be 1.3 billion. A growing working-age population is an important source of economic growth, so India's rise will give it new power in international politics. Apart from this, separation between America and China will also benefit India. Companies around the world are reducing their dependence on China. This will also directly benefit India.

India is also chairing the G-20 this year. The government will be eager to show its leadership ahead of India's general elections in 2024. The new year marks the beginning of the tripolar world. Which includes America, China and India. Many tech companies of the world are shifting their business from China to India.

However, the challenges for India's economy are mounting as GDP is projected to remain at a half-century low. One estimate is that India's real GDP growth will slow to 5.2 percent in FY24 after two consecutive years of strong growth. Although the International Monetary Fund has projected India's GDP growth at 6.8 percent in the current fiscal year, it is expected to grow at 6.1 percent in 2023-24. On the other hand, International Monetary Fund said that this year i.e. in 2023, one third of the countries of the world will be in the grip of recession.

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