What : India could become the world’s third largest economy after 2030.
Who : Report UK think tank Centre for Economics Business and Research (CEBR)
When : 28 December ,2016
According to a report by the UK think tank Centre for Economics Business and Research (CEBR), India could become the world’s third largest economy after 2030.
- India’s projected GDP in 2030 was USD 10,133 billion, behind China’s USD 34,338 bn and America’s USD 32,996 bn.
Key Highlights of Study
- India will become the largest economy in the Commonwealth in 2019when it overtakes the British economy.
- India is finally starting to catch up with China and will eventually overtake the communist-giant in the second half of the century.
- Britain will move up to take 4th spot and Brazil will complete the top five.
- As Brazil and India meet the political criteria for membership of the exclusive G8 club of developed democracies, their ascension could see France and Italy kicked out of the group or the club expanded to a G10 as more economies join.
- The UK is set to become the best performing economy in the western world over the next 15 years, boosted by its leading position in global software and IT sectors.
- Europe’s largest economy, Germany will maintain its position in the world’s leading economies as its declining population receives a welcome boost of a 5 million refugees and migrants.