India likely to be third largest economy by 2028: HSBC report

India is likely to overtake Japan and Germany to become the third largest economy in the next 10 years but needs to be consistent in reforms and focus more on the social sector, British brokerage HSBC has said. Social capital is “insufficient” in the country and spending on aspects like health and education “is not just desirable for its [India’s] own sake, but is also central to economic growth and political stability,” it said.
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