1947 Rise ☀️: 211

India’s century, India overtakes the UK to become fifth-largest economy.

1. It’s not India’s decade, it’s India’s century, says McKinsey’s Bob Sternfels

India will be the world’s future talent factory as it will have 20% of the globe’s working population by 2047, said Bob Sternfels, CEO, McKinsey & Co. The firm’s 13th global leader added that it will not only be India’s decade, but India’s century, with all key elements in place:

A large working population

multinational companies reimagining global supply chains, 

and a country leapfrogging at digital scale-to achieve something special not just for the Indian economy, but potentially for the world.

It's not India's decade, it's India's century, says McKinsey's Bob Sternfels

2. India overtakes UK to become fifth-largest economy — Mint

India has overtaken the UK to become the fifth-largest economy in the world. Economists and business executives anticipated that India’s position would continue to improve in the years to come due to greater economic growth.

According to figures from the International Monetary Fund (IMF), India passed the United Kingdom (UK) to become the fifth-largest economy in the world in the last quarter of 2021. India’s economy currently ranks just four nations ahead of it in terms of size in dollars. The United States, China, Japan, and Germany are the only nations with economies larger than India’s. The UK is currently in sixth place, just behind India.

India becomes fifth-largest economy: What analysts are saying

A podcast 🎙

Shiva Singh Sangwan @shivassangwan

1947 Rise🎙✨ India is a movie, not a picture. And you wanna be around as long as possible to make the biggest impact @sashankr. It was a special one with Sashank. We covered - Journey so far - The founding story of (@add_axio) - Evolution of lending in India & more ☀️

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Worth your attention:

1. Digital lending startup EarlySalary raises $110 million at $300m valuation Link

2. Two-wheeler financing firm Bike Bazaar raises ₹170 cr in equity funding Link

3. Shadowfax in talks to raise $100 million, valuation likely to touch $350–400 million Link

4. Prosus Ventures may join funding round of ex Myntra CEO’s new fashion startup Link

5. Skyroot Aerospace raises $51 million in new funding round led by Singapore’s GIC Link

6. Funding for Indian startups falls below $1 bn in July: Report Link

7. VC agency Merak Ventures begins its journey with a $100M fund Link

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