India's share in global investment to double by 2030: WB
New Delhi: India's share in global investments expected to almost double by 2030, a World Bank report said Monday.
"In less than a generation, global saving and investment will be dominated by the developing world with India's share in global investments expected to almost double by 2030.
No other country except China will be investing more than India globally," says the latest edition of World Bank’s Global Development Horizons (GDH) report.
Among the developing countries, China and India are expected to be the largest global investors.
"The two countries together will account for 38 percent of the global gross investment in 2030. In fact, developing countries' share in global investment is projected to triple by 2030 to three-fifths, from one-fifth in 2000," the World Bank said.
Commenting on the findings of the report, World Bank senior vice president and chief economist Kaushik Basu said "in less than a generation, global investment will be dominated by the developing countries. And among the developing countries, China and India are expected to be the largest investors".
The report said developing countries are on course to add more than 1.4 billion people to their combined population between now and 2030.
By the mid-2020, India will be one of the economies with the highest ratios of working to non-working population. This, jointly with its large population and growing incomes, are the key explanations of why India will become a powerhouse in global savings and investment, it added.