India's Surging Population Is an Economic Virtue
The country is likely to have the world’s fastest-growing economy this year as much of the world teeters on the edge of recession.
Sure, India is crowded. But that’s great for its economy.
Photographer: Manjunath Kiran/AFP via Getty Images
There are no shortages of superlatives associated with India. It’s the largest democracy. It’s poised to overtake China as the most-populous nation with more than 1.4 billion people. It has the largest film industry based on movies produced.
And yet, what is perhaps most impressive is the performance of its economy. Over the last decade it has managed to surpass Canada, Brazil, Italy, Russia, France and UK in size, rising from No. 11 in the world to No. 5. India isn’t stopping there. The country is likely to have the fastest-growing economy this year as much of the world teeters on the edge of recession. Gross domestic product is forecast to expand 6.9% in what promises to be the beginning of another decade-long trajectory higher, according to the 46 economists contributing their forecasts to Bloomberg.