This statistic shows the projected top ten largest national economies in 2050. By 2050, China is forecasted to have a gross domestic product of over ** trillion U.S. dollars.

In the scenario, that India follows its current national goals, its gross domestic product (GDP) is estimated to decline by over ***** percent by 2030 and over **** percent by 2050. India is especially vulnerable to the impacts of climate change and the effect on GDP is estimated to be worse than the global average.

The statistic shows GDP in India from 1987 to 2024, with projections up until 2030. In 2024, GDP in India was at around 3.91 trillion U.S. dollars, and it is expected to reach six trillion by the end of the decade. See figures on India's economic growth here, and the Russian GDP for comparison. Historical development of the Indian economy In the 1950s and 1960s, the decision of the newly independent Indian government to adopt a mixed economy, adopting both elements of both capitalist and socialist systems, resulted in huge inefficiencies borne out of the culture of interventionism that was a direct result of the lackluster implementation of policy and failings within the system itself. The desire to move towards a Soviet style mass planning system failed to gain much momentum in the Indian case due to a number of hindrances, an unskilled workforce being one of many.When the government of the early 90’s saw the creation of small-scale industry in large numbers due to the removal of price controls, the economy started to bounce back, but with the collapse of the Soviet Union - India’s main trading partner - the hampering effects of socialist policy on the economy were exposed and it underwent a large-scale liberalization. By the turn of the 21st century, India was rapidly progressing towards a free-market economy. India’s development has continued and it now belongs to the BRICS group of fast developing economic powers, and the incumbent Modi administration has seen India's GDP double during its first decade in power.

This is the dataset of Historical GDP growth data of India from 1961 to 2021. Use this dataset to do Data Visualisation and Data Analytics.

Task : Predict year 2030 and 2050 GDP and Per Capita of India, and comment your results on Discussion page.

India Projection: Population: Single Year: YoY% data was reported at 0.575 % in 2050. This records a decrease from the previous number of 0.586 % for 2049. India Projection: Population: Single Year: YoY% data is updated yearly, averaging 0.938 % from Mar 2002 (Median) to 2050, with 49 observations. The data reached an all-time high of 1.744 % in 2002 and a record low of 0.575 % in 2050. India Projection: Population: Single Year: YoY% data remains active status in CEIC and is reported by CEIC Data. The data is categorized under India Premium Database’s Demographic – Table IN.GAI001: Population Projection: Single Year.

This statistic shows the total GDP of the countries who formed the G7 and the E7 in 2015, alongside a project for the year 2050. The G7 includes; the United States, Japan, Germany, The United Kingdom, France, Italy, and Canada. The E7 includes; China, India, Brazil, Russia, Indonesia, Mexico, and Turkey. The projected GDP total of the E7 countries for 2050 was ***** trillion U.S. dollars.

India Population Projection: Single Year data was reported at 1,667,873,933.000 Person in 2050. This records an increase from the previous number of 1,658,330,351.000 Person for 2049. India Population Projection: Single Year data is updated yearly, averaging 1,394,461,787.000 Person from Mar 2001 (Median) to 2050, with 50 observations. The data reached an all-time high of 1,667,873,933.000 Person in 2050 and a record low of 1,019,001,911.000 Person in 2001. India Population Projection: Single Year data remains active status in CEIC and is reported by CEIC Data. The data is categorized under India Premium Database’s Demographic – Table IN.GAI001: Population Projection: Single Year.

Since the beginning of the 21st century, the BRICS countries have been considered the five foremost developing economies in the world. Originally, the term BRIC was used by economists when talking about the emerging economies of Brazil, Russia, India, and China, however these countries have held annual summits since 2009, and the group has expanded to include South Africa since 2010. China has the largest GDP of the BRICS country, at 16.86 trillion U.S. dollars in 2021, while the others are all below three trillion. Combined, the BRICS bloc has a GDP over 25.85 trillion U.S. dollars in 2022, which is slightly more than the United States. BRICS economic development China has consistently been the largest economy of this bloc, and its rapid growth has seen it become the second largest economy in the world, behind the U.S.. China's growth has also been much faster than the other BRICS countries; for example, when compared with the second largest BRICS economy, its GDP was less than double the size of Brazil's in 2000, but is almost six times larger than India's in 2021. Since 2000, the country with the second largest GDP has fluctuated between Brazil, Russia, and India, due to a variety of factors, although India has held this position since 2015 (when the other two experienced recession), and it's growth rate is on track to surpass China's in the coming decade. South Africa has consistently had the smallest economy of the BRICS bloc, and it has just the third largest economy in Africa; its inclusion in this group is due to the fact that it is the most advanced and stable major economy in Africa, and it holds strategic importance due to the financial potential of the continent in the coming decades. Future developments It is predicted that China's GDP will overtake that of the U.S. by the end of the 2020s, to become the largest economy in the world, while some also estimate that India will also overtake the U.S. around the middle of the century. Additionally, the BRICS group is more than just an economic or trading bloc, and its New Development Bank was established in 2014 to invest in sustainable infrastructure and renewable energy across the globe. While relations between its members were often strained or of less significance in the 20th century, their current initiatives have given them a much greater international influence. The traditional great powers represented in the Group of Seven (G7) have seen their international power wane in recent decades, while BRICS countries have seen theirs grow, especially on a regional level. Today, the original BRIC countries combine with the Group of Seven (G7), to make up 11 of the world's 12 largest economies, but it is predicted that they will move further up on this list in the coming decades.

India Maximum 5-day Rainfall: 25-year Return Level data was reported at 35.166 mm in 2050. India Maximum 5-day Rainfall: 25-year Return Level data is updated yearly, averaging 35.166 mm from Dec 2050 (Median) to 2050, with 1 observations. The data reached an all-time high of 35.166 mm in 2050 and a record low of 35.166 mm in 2050. India Maximum 5-day Rainfall: 25-year Return Level data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.WDI: Environmental: Climate Risk. A 25-year return level of the 5-day cumulative precipitation is the maximum precipitation sum over any 5-day period that can be expected once in an average 25-year period.;World Bank, Climate Change Knowledge Portal (https://climateknowledgeportal.worldbank.org);;

The median age in India was 27 years old in 2020, meaning half the population was older than that, half younger. This figure was lowest in 1970, at 18.1 years, and was projected to increase to 47.8 years old by 2100. Aging in India India has the second largest population in the world, after China. Because of the significant population growth of the past years, the age distribution remains skewed in favor of the younger age bracket. This tells a story of rapid population growth, but also of a lower life expectancy. Economic effects of a young population Many young people means that the Indian economy must support a large number of students, who demand education from the economy but cannot yet work. Educating the future workforce will be important, because the economy is growing as well and is one of the largest in the world. Failing to do this could lead to high youth unemployment and political consequences. However, a productive and young workforce could provide huge economic returns for India.

The primary energy demand in the Asia-Pacific region was forecasted to reach about *** quadrillion British thermal units (BTUs) by 2050, reflecting a substantial increase driven by rapid economic and population growth. Coal demand was forecasted to steadily decrease from around *** quadrillion BTUs in 2025 to approximately ** quadrillion BTUs in 2050, indicating the region’s shift towards cleaner energy. While coal consumption was projected to decline, demand for oil and natural gas was projected to rise, reflecting the complex energy transition facing the region. Rising energy demand and economic efficiency The Asia-Pacific region's primary energy demand is projected to rise by a quarter from 2023 to 2050. This projected increase highlights the region's continued significant role as the largest consumer of primary energy in the global energy market. Notably, the region is becoming more energy-efficient, with projections indicating a significant decrease in energy intensity by 2050, showing improvements in economic productivity relative to energy use. Environmental implications and energy transition efforts The increasing energy demand in the Asia-Pacific region has significant environmental implications. As the largest global emitter of energy-related CO2, the region faces mounting pressure to address climate change concerns. The forecasted growth in renewable energy sources, particularly wind and solar, offers a promising path toward reducing emissions. Some countries in the region are increasing their efforts to transition away from fossil fuel dependency, particularly coal, with the aim of gradual decarbonizing the energy sector. For example, China and India, the two largest coal consumers in APAC, have raised a larger share of investments in renewable energy and clean technologies. However, the fossil fuel sector in the region continued to receive a substantial portion of funding. The Asia-Pacific region relies on their governments for more determined efforts to realize their climate ambitions.

In 2023, London had a gross domestic product of over 569 billion British pounds, by far the most of any region of the United Kingdom. The region of South East England which surrounds London had the second-highest GDP in this year, at over 360 billion pounds. North West England, which includes the major cities of Manchester and Liverpool, had the third-largest GDP among UK regions, at almost 250 billion pounds. Levelling Up the UK London’s economic dominance of the UK can clearly be seen when compared to the other regions of the country. In terms of GDP per capita, the gap between London and the rest of the country is striking, standing at over 63,600 pounds per person in the UK capital, compared with just over 37,100 pounds in the rest of the country. To address the economic imbalance, successive UK governments have tried to implement "levelling-up policies", which aim to boost investment and productivity in neglected areas of the country. The success of these programs going forward may depend on their scale, as it will likely take high levels of investment to reverse economic neglect regions have faced in the recent past. Overall UK GDP The gross domestic product for the whole of the United Kingdom amounted to 2.56 trillion British pounds in 2024. During this year, GDP grew by 0.9 percent, following a growth rate of 0.4 percent in 2023. Due to the overall population of the UK growing faster than the economy, however, GDP per capita in the UK fell in both 2023 and 2024. Nevertheless, the UK remains one of the world’s biggest economies, with just five countries (the United States, China, Japan, Germany, and India) having larger economies. It is it likely that several other countries will overtake the UK economy in the coming years, with Indonesia, Brazil, Russia, and Mexico all expected to have larger economies than Britain by 2050.