8 things you need to know about India’s economy

By 2050, India’s economy is projected to be the world’s second-largest, behind only China. India is home to 1.34 billion people – 18% of the world’s population. It will have overtaken China as the world’s most populous country by 2024. Last year, Prime Minister Modi unexpectedly declared that India’s highest-denomination banknotes – accounting for 86% of cash – would no longer be legal tender. India has scope to build on its tech start-up scene, which already boasts more companies than anywhere other than the US and UK. However, the growing ability of machine learning to replace human workers is a major challenge. Continue reading →