3:48 am - Thursday December 14, 2017

India to become world’s third largest economy by 2028: Report

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India to become world's third largest economy by 2028: Report
India to become world's third largest economy by 2028: Report

Beijing – India will overtake Japan in 2028 to become the world’s third largest economy, a new report has found.

The London-based Center for Economics and Business Research (CEBR) said Japan is likely to follow a weak currency policy in future, which means that India will overtake its GDP in dollar terms earlier than previously expected.

The research found that China was expected to overtake the United States in 2028 to become the world’s largest economy.

According to China Daily, Brazil overtook the UK in 2011 to become the world’s 6th largest economy.

CEBR however said that the country had since fallen back, but would overtake both the UK and Germany to become the world’s fifth largest economy in 2023, the report said.

The annual report issued by the CEBR, a leading economic consultancy in Britain, covers the 30 largest economies in the world, it added.

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