India will overtake Japan and Germany in nominal GDP by 2028 to emerge worlds third-largest economy

Posted on:14 Nov 2017 15:38:00
India will overtake Japan and Germany in nominal GDP by 2028 to emerge worlds third-largest economy
14 November 2017 Current Affairs: India will overtake Japan and Germany in nominal GDP and is likely to achieve strong growth by 2028.

India will also emerge as the world’s third-largest economy stated the Bank of America Merrill Lynch in a report titled, India 2028.

According to the report, India has already emerged as the second largest BRIC economy after China by overtaking Brazil and Russia. By 2019, India will also overtake France and Britain to emerge as the world’s fifth largest economy.

This assumes that the Indian economy witnesses a 10 percent (in nominal US GDP) growth in the next decade which is well ahead of Japan's 1.6 percent.

The Bank of America Merrill Lynch has reported the country's real GDP growth at the potential of 7 percent.

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