The biggest diaspora.

In the next 10 years, "While the traditional superpower, the US, remains the dominant military, political and economic superpower," "India ranks seventh among global superpowers and is set the achieve the fastest real GDP growth over the next decade." According to S&P Global, India will become the world's third largest economy with its GDP doubling from $3.6 trillion 2023-24 to $7 trillion by 2030-31. TIE. In India, "E-commerce was supposed to replace the brick-and-mortar retail," "But the new consumption trend of premiumisation, where consumers are willing to splurge on expensive items, is bringing back brick-and-mortar retail in the shape of high-end shopping malls where customers can touch and feel high-value products and have a superior shopping experience." "For instance, over 70% of the new products launched by Hindustan Unilever (HUL), India's largest consumer goods company, over the past two years in the premium segment." ET. "The net worth of Indian households has reached a record 157% of GDP in the first quarter of FY25," primarily due to investments in mutual funds and equity. "However, there is a concerning rise in households debt, which now stands at 42% of GDP according to a report by Motilal Oswal." TOI. "India is not dependent on China Plus One," but "has made tremendous strides in manufacturing," due to the "Make in India initiative, launched on September 25, 2014," said Minister of Commerce and Industry Piyush Goyal. Despite increased manufacturing and wealth, "The level of overdue credit card payments has been steadily rising," so that "In June 2024, the outstanding amount on credit cards was nearly Rs 2.7 trillion," compared to Rs 2 trillion in March 2023 and Rs 876.86 billion in March 2019, "indicating a 24% compound annual growth rate of over five years." ET. According to the Periodic Labour Force Survey (PLFS), "India's annual unemployment rate was flat between 2022-23 and 2023-24 at 3.2%." But the share of unpaid family work has risen from 62 million, 12.8% of the labor force, in 2017-18 to 117.9 million, 18.8% of the labor force, in 2023-24. Of the new 56 million unpaid family workers, 88% were in agriculture, wrote Roshan Kishore & Abhishek Jha. No wonder, according to the World Migration Report 2022, "Just under 17.9 million born in the country were recorded as living overseas as of the mid-year." The biggest diaspora in the world. The Wire. In the US, "As per Layoffs.fyi, over 438 tech companies have laid off approximately 137,500 employees." "It has hit Indian workers, particularly those on H1B visas, the hardest." TOI. Poor Indians. Not wanted at home. Not wanted abroad.