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India Overtakes Japan, Becomes 4th Largest Economy by 2026
12 Nov
Summary
- India to become world's 4th largest economy by 2026
- India's economy has zoomed past Brazil, Mexico, Canada, and Britain
- Hundreds of millions lifted out of extreme poverty, but 75 million still live on less than $3 per day
In a remarkable feat, India is poised to overtake Japan and become the world's 4th largest economy by the close of the 2026 financial year. This milestone represents tremendous progress, as India has zoomed past several major economies, including Brazil, Mexico, Canada, and even its former colonizer, Britain.
However, India's economic rise is a double-edged sword. While the country's cities have sprouted skyscrapers and luxurious homes, and its highways are bustling with vehicles, the fruits of this prosperity are not evenly distributed. Hundreds of millions of Indians have lifted themselves out of extreme poverty, but a staggering 75 million people – more than the population of Britain – still survive on less than $3 a day. Additionally, India ranks poorly on various global indices, including environmental performance, press freedom, and democracy.
As India's government and people celebrate their economic successes, they must also address the persistent challenges of inequality and quality of life. The country's rapid growth is undoubtedly impressive, but true development will require ensuring that all Indians, not just the privileged few, can enjoy the benefits of a thriving economy.
