China’s population has reigned as the largest in the world for more than two centuries. Now India is taking its place, heralding a major shift in the global order. The United Nations has said India’s population is projected to surpass China’s sometime this year. Many demographers estimate it could happen this month, if it hasn’t already. India’s population is expected to reach 1.429 billion by the end of the year, according to the U.N. China will fall to second place, with 1.426 billion people. Both dwarf the U.S. at a projected 340 million. India’s rising population means it’s likely to keep its economy growing, buy more of the world’s goods and play a bigger role in global affairs, even as it grapples with poverty and a lack of jobs. China’s demographic headwinds will make it harder for the country to achieve its economic ambitions, or to supplant the U.S. as the world’s biggest economy, despite its rising wealth and military power.