India to be third largest economy in 10 more years: HSBC
Q. India will be the third largest economy within a span of how many years, according to HSBC estimates?- Published on 27 Oct 17
India is likely to overtake Japan and Germany to become the third largest economy in the next 10 years, HSBC Holdings Plc said in a September report.
According to HSBC's estimates, India will be a $7 trillion economy in 2028.
This is compared to less than $6 trillion and $5 trillion for Germany and Japan, respectively.
Presently, India's gross domestic product (GDP) is around $2.3 trillion (fiscal 2016-17).HSBC: Know More
- HSBC Holdings plc is a British multinational banking and financial services holding company, tracing its origin to a hong in Hong Kong.
- It is the world's seventh largest bank by total assets and the largest in Europe with total assets of US$2.374 trillion (as of December 2016).
- It was established in its present form in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company.
- The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation.
- The company was first formally incorporated in 1866.
- The company continues to see both the United Kingdom and Hong Kong as its "home markets".