India on the rise: will it be the new BRICS superpower?

India on the rise: will it be the new BRICS superpower?

BRICS is experiencing a new chapter! Jim O'Neill, the spiritual father of the economic alliance, has announced that India could soon become the third largest economy in the world. His bold outlook comes from an interview with The Economic Times. India is on a steep growth path, similar to what O’Neill predicted 20 years ago. Gone are the days when India was seen as a mere spectator - the country is on the way to overtaking Germany and Japan economically, read more on watcher.guru.

In the last two years, the BRICS alliance has gained massively in importance! Particularly noteworthy is the attempt to emancipate oneself from a Western-dominated economic system. Driven by the hope of “de-dollarization,” BRICS wants to increasingly introduce local currencies. But there is a new dynamic within the group. The young giant India, with its youthful population and emerging workforce, could move into the top trio of the global economy within the next five to 10 years, according to O'Neill. O'Neill emphasizes that the country's distinctive features and its relative independence from global trade could serve it well in a Trumpian world.