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28/12/20 12:40 PM IST

India to become 5th largest economy in 2025

In news
The CEBR forecasts that the Indian economy will expand by 9 per cent in 2021 and by 7 per cent in 2022

Highlights
  • As per report India will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030
  • India had overtaken the UK in 2019 to become the fifth largest economy in the world but has been relegated to 6th spot in 2020.
  • “India has been knocked off course somewhat through the impact of the pandemic.
  • Growth will naturally slow as India becomes more economically developed, with the annual GDP growth expected to sink to 5.8 per cent in 2035
Prediction about other countries
  • The UK-based think tank forecast that China will in 2028 overtake the US to become the world’s biggest economy
  • Japan would remain the world’s third-biggest economy, in dollar terms, until the early 2030s when it would be overtaken by India, pushing Germany down from fourth to fifth.
The Centre for Economics and Business Research
  • It is one of the UK's leading economics consultancies.
  • They use economics and econometrics, surveys, qualitative research, expert interviews, modelling and scenario planning to help their clients understand their environment, forecast changes in it, build robust strategies and persuade others.
  • As a recognised independent forecasting house, their top-line predictions for the United Kingdom are published by the Treasury and used in the Bank of England’s quarterly inflation report.

Source: Indian Express

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