India, which continues to be the 6th largest economy in the world by 2020, will overtake England as the 5th largest economy by 2025, according to the country’s consultancy firm CEBR. He also said that India would overtake Japan as the world’s third largest economy by 2030. India overtook the UK in 2019 to be ranked 5th. However, with the corona epidemic in 2020, the growth rate dropped to 6th place again.
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“India has lagged somewhat due to the impact of the corona epidemic. As a result, the UK surpassed India again this year after 2019 surpassing the UK. However, India will bounce back and remain ranked 5th until 2024, ”the Center for Economics and Business Research (CEBR) said in its annual report published on Saturday. It seems that the UK will overtake India again in 2020 due to the depreciation of the rupee. The CEBR expects the Indian economy to grow at 9 per cent in 2021 and 7 per cent in 2022 .
India will be the third largest economy by 2030
As India grows faster, it will overtake Germany by 2027 and Japan by 2030, making it the third largest economy in the world, the report said. This growth rate is projected to reach 5.8 percent in 2035. The UK-based think tank predicts that by 2028, China will overtake the United States to become the world’s largest economy. The report said that the main reason for China to stand in the first place 5 years earlier than previously expected was to recover faster than the US from the impact of the corona epidemic.
India will overtake Japan as the third largest economy in the world in dollar terms by 2030. It will also overtake Germany by 2027 to move from 4th to 5th place. CEBR said the Indian economy had slowed down before the Kovid 19 crisis. In 2019, India’s GDP growth rate fell to a ten-year low of 4.2 percent. This is half of the 8.3 per cent growth rate recorded in 2016. It said the Indian economy was lagging behind due to a flaw in the banking system, the introduction of new reforms and the slowdown in world trade.
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