India likely to become world’s 3rd largest importer by 2050: Report

A report has indicated that India is likely to become the third largest importer in the world by 2050.

India could become the world’s third-largest importer by 2050, according to a report released by the UK’s Department of International Trade. With a 5.9 per cent share of global imports by 2050, the country will become the third-largest importer, following China and the United States.

At present, India occupies the eighth spot on the list of the largest importing countries with a 2.8 per cent share. As per the Global Trade Outlook report, the country’s position on the list will jump to the fourth position by 2030 with a 3.9 per cent share.