Asian economies set to dominate the top 10 largest over the next 15 years

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Experts predict that Asian economies, namely India and China, will dominate the top 10 largest economies over the next 15 years, knocking the US off the top spot. India’s gross domestic product (GDP) has risen above the European nation’s for the first time ever, pushing France back down to seventh place: its GDP reached $2.597 trillion in 2017, compared with $2.582 trillion for France, according to the Bank’s latest data. But while India has doubled its GDP in 10 years, its GDP per capita remains much lower than France’s: $1,932.55 compared with $42,567.74. India’s steep ascent is part of a trend that will see Asian economies increasingly dominate the top 10 biggest economies over the next 15 years, leading economists predict.

Earlier this year, India became the world’s fastest growing major economy in the January-March quarter, surpassing China’s growth of 6.8 percent, a growth driven by gains in manufacturing, construction, the farm sector and consumer spending. The International Monetary Fund (IMF) said in May that growth in Asia’s third largest economy was expected to grow by 7.4 percent in 2018 and 7.8 percent in 2019. India’s Economic Affairs Secretary Subhash Chandra Garg said: “Investment activity has picked up.” He added the government expects the economy to grow at an even faster rate next year.

India cricket salaries 2018: Which player earns most? Sun, February 18, 2018 Which Indian cricketer is paid the most, according to www.tsmsportz.com? Play slideshow Getty Images 1 of 30 MS Dhoni – Grade A (Central contract): Retainer – $310,000, Test – $23,000, ODI – $10,000 T20 – $4,500