India to overtake China in purchasing power share by 2060
Big news for India: a new report says the country is on track to surpass China's share of the world economy (measured by purchasing power) by 2060.
Right now, China holds about 20% of global GDP, much more than the US but its shrinking population means that lead won't last.
Meanwhile, India's growing population and rapid economic expansion are putting it in the spotlight as a future economic powerhouse.
China population share dropping, India challenges
China's share of the world population has been dropping for decades and could fall below 8% by 2100, which will likely shrink its slice of global GDP too.
India, though, faces some hurdles like higher inequality and slower productivity growth compared to China.
Still, experts say India is poised to help shape a new era where no single country dominates the world economy, unlike when Europe or the US called all the shots.