India may emerge as second-largest economy by 2038: EY report

NEW DELHI: India’s economy could reach $20.7 trillion in terms of purchasing power parity (PPP) by 2030 and may emerge as the second-largest economy by 2038 with $34.2 trillion GDP, an EY report said. The report also said with appropriate countermeasures, India can limit adverse impact of higher US tariffs on selected exports to about 10 basis points of real GDP growth. India is emerging as one of the most dynamic among world’s five largest economies, with strong fundamentals, Aug 2025 issue of EY Economy Watch.