India will become 3rd largest importer by 2050: UK report3 min read . Updated: 20 Sep 2021, 01:59 AM IST
Increasing middle class spending will help the country have a share of 5.9% of global imports
NEW DELHI : With a growing middle class and its rising discretionary spending, India will become the world’s third largest importer by 2050 with a share of 5.9% of global imports, right behind China and the US, a new report said, mimicking its projected ranking among world economies. At present, India is ranked eighth among largest importing nations with a 2.8% import share and is set to become the fourth largest importer by 2030.
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