With the growing middle class and its increasingly discriminatory spending, India will be the world’s largest by 2050 The third largest importer Will become. With a share of 5.9% in global imports, India will be behind China and the United States.
According to the current projected ranking in world economies, India is the eighth largest importer with an import share of 2.8% and is set to become the fourth largest importer by 2030, according to a new report.
The share of most of the US and EU imports is expected to decline by 2030 as purchasing power for the middle class in Asia grows. These changes are particularly marked in the areas of food and beverages, travel and digital services.