India, China to account for nearly 35% of global GDP in 2060: Study

Things might not look up for the Indian economy at the moment but according to a study, India is likely to bounce back in the long run.

According to a Japan-based think tank, India's bolstered GDP, together with neighbouring China's, is expected to account for 35 per cent of the global Gross Domestic Product in the year 2060.

Japan Center for Economic Research (JCER) has found that India and China's combined share in the world's GDP will near America's and European countries' combined share.

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In the next four decades, the JCER found that India's share of the world economy will be over 15 per cent while China's is expected to be around 20 per cent.

China is predicted to surpass the United States as the world's largest economy around 2030, adding that Washington will be quick to retain its spot in the following decades.

The research also points to the falling share of US and Economies economies on the global platform in the years to come.