Get this: India will be third biggest economy with the largest workforce by 2030

Fifteen years from now, India will be the third largest economy in the world while the US will be far less dominant, and European economies stagnating and slipping behind, according to the US Department of Agriculture’s latest 2030 macroeconomic projections. Here are the top 10 global economies by 2030 So while the US will just barely remain the global leader, with $24.8 trillion in annual output, China’s GDP will grow to more than twice its current size. This means the Asian powerhouse will almost entirely close its gap with the US and certainly catapult into prominence. Moreover, despite its $24.8 trillion economy, the US will see its proportion of the world economy decline to 20 percent by 2030 from its current 23 percent share. Currently,  US’s GDP is almost double that of China. [caption id=“attachment_2051155” align=“alignleft” width=“380”] Reuters[/caption] India, which is ranked eighth for 2015, will move past Brazil, the UK, France, Germany and Japan to take third place, with its GDP at $6.6 trillion. In 2014-15, the Indian economy is projected to reach a size of $2.1 trillion. According to the International Monetary Fund (IMF) India is “the bright spot in the global landscape” as it will have the largest and the youngest workforce in the world within the next 15 years. India will be followed by Japan in fourth place, then Germany, and Brazil at number six. These figures give an interesting insight into the rapidly changing world economy and India’s position is clearly rising in this new economic order.