New Delhi, Aug. 27 -- India could climb to the position of the world's second-largest economy in purchasing power parity (PPP) terms by 2038, with its GDP estimated to touch USD 34.2 trillion, according to EY's analysis based on IMF forecasts.

EY highlighted that India stands apart among major economies, with a projected median age of 28.8 years in 2025, one of the highest savings rates globally, and a debt-to-GDP ratio likely to fall from 81.3 percent in 2024 to 75.8 percent by 2030-at a time when other large economies are grappling with rising debt, The Economic Times reported, citing the EY analysis of IMF report.

The consultancy cited IMF estimates that India's GDP in PPP terms could reach USD 20.7 trillion by 2030.

Compared with t...