There is a phrase that ‘Demography is destiny’ and India’s destiny looks increasingly good.  It passed China recently as the most populous nation on Earth with 1.3bn people while birth rates are falling everywhere else. 

But its economy is also booming and is set to pass out Japan and Germany to become the 3rd largest in the world.   And its middle class will soon start moving the dial in terms of global trade.  But its poverty levels are still huge and it could take a century to modernise its infrastructure.  

Joe discusses all with James Pomeroy is Global economist with HSBC.