what is ppp

India to become world’s second largest economy by 2038 despite Trump tariffs

Despite US President Donald Trump imposing a 50% tariff on Indian exports, India is on track to become the world's second largest economy by 2038. According to the August 2025 report of EY Economy Watch, India's gross domestic product (GDP) could reach $34.2 trillion on a purchasing power parity (PPP) basis.