India is indeed likely to be a rising "great power" and its economy will have the size similar to that of the U.S. by 2050, according to noted economics commentator Martin Wolf who has also highlighted that Western leaders are making a sensible bet on the country.
"I judge that India should be able to sustain growth of GDP per head at 5% a year, or so, up to 2050. With better policies, growth might even be a bit higher, though it could also be lower," Mr. Wolf said in a column written in the Financial Times.
He also said India is an obvious location for companies following a "China plus one" strategy and has the advantage over obvious competitors of a large home market.
