India’s GDP on PPP basis can rise seven-fold by 2050: PwC

New Delhi : India’s GDP in terms of purchasing power parity (PPP) will likely rise more than seven-fold to $34.7 trillion by 2050 from the 2011 level, closely trailing the US, according to a study by PricewaterhouseCoopers (PwC) released on Wednesday.

China, however, would lead the pack of economies, with its expected GDP touching $53.85 trillion by 2050, while Brazil could pip Japan as the world's fourth-largest economy, said the study by PwC chief economist John Hawksworth.

“And by the same time, Russia, Mexico and Indonesia could be bigger than Germany or the UK; Turkey could overtake Italy; and Nigeria could rise up the league table, as could Vietnam and South Africa in the longer term,” said the study titled 'World in 2050 The BRICs and Beyond: Prospects, challenges and opportunities'.

In general, the GDP at the purchasing power parity is a gauge for average living standards or volumes of output or inputs.