Indian Economy British consultancy Cybr report, made public last Sunday, said it is set to become the world’s sixth-largest economy, surpassing France and the British economy. The report said that in the year 2022, the Indian economy will overtake the French economy, while in 2023 it will overtake the British economy. However, the report contained bad news for China as it says it will take time for Mandarins to become the world’s top economy. In terms of dollars.
“India is set to regain its position as the world’s sixth-largest economy by overtaking France next year and then the UK in 2023,” the Cebr report said.
The report also said that the world’s economic output will exceed $100 trillion for the first time in 2022. However, it will take a little longer for China to overtake the United States as the No. 1 economy than before, the report said. British consultancy Cebr predicted that China would become the world’s top economy in dollar terms in 2030, two years behind what last year’s World Economic League Tables report forecast.
“The key issue for 2020 is how world economies deal with inflation, which has now reached 6.8 percent in the US,” said Douglas McWilliams, Sebr’s deputy chairman.
“We expect a relatively minor adjustment to the tiller to bring non-transient elements under control. If not, the world will need to prepare itself for a recession in 2023 or 2024.”
The report shows that Germany was on track to overtake Japan in terms of economic output in 2033. Russia could become a top 10 economy by 2036 and Indonesia is on track to be ranked ninth in 2034.
(with inputs from Reuters)
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