The US’ long-standing economic ‘exceptionalism’ will fade as the 21st century wears on. Goldman Sachs has predicted the Indian economy and market to be among the top five globally by 2050 — and even outshine the US by 2075. In a report titled The Path to 2075: Capital Market Size and Opportunity, the bank said that growth in the emerging market (EM) will continue to outpace that of the developed market (DM), with seven of the top 10 world economies by 2075 being EMs.
“We expect EM growth to continue to outstrip DM over the remainder of this decade (3.8 per cent versus 1.8 per cent). In 2050, we project that the world’s five largest economies will be China, the