India to become 3rd largest Economy in the world by 2037; CEBR
Tags: Reports Economy/Finance
The United Kingdom based economics consultancy firm Centre for Economics and Business Research (CEBR) has predicted that India will become the third-largest economy by 2037.
Its annual report titled ‘World Economic League Table’ tracks macroeconomic developments globally and countrywise. It presents forecasts for 191 countries of the world.
According to the 14th edition of the report released on 26 December 2022, it says that in the next five years India's annual economic growth is expected to average 6.4%. After that, the growth is expected to average 6.5% in the subsequent nine years.
It expects the Indian economy to grow by 6.8% in 2022-23.
The reported growth trajectory will see India rise from fifth place on the World Economic League Table’ in 2022 to third in the global rankings by 2037 after China and the United States of America.
According to the International Monetary Fund (IMF), India is expected to become the 3rd largest economy in the world by 2027-28. According to the SBI EcoWrap report India is likely to become the 3rd largest economy in 2029.
According to the IMF India is likely to overtake Great Britain and become the 5th largest economy in 2022-23 after the United States, China, Japan and Germany.
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