India to have a $10 trillion economy by 2035: CEBR report

The report predicted that by 2026, India will overtake Germany as the world's fourth largest economy, and by 2032, it would overtake Japan as the world's third largest economy

The Centre for Economics and Business Research (CEBR) in its annual World Economic League Table (WELT), has stated that India’s momentum to become the third economic superpower appears unstoppable.

By 2026, India is expected to surpass Germany as the fourth largest economy in the world, and by 2032, it will have surpassed Japan to become the third largest economy in the world, the report stated.

“In 2035, we forecast that India will become the third $10 trillion economy,” the CEBR report said.

By 2022, the world economy will be worth more than $100 trillion, but due to inflation, growth is expected to decline in 2023, the report added.

There has been a major shift in the CEBR’s outlook on China during the past year. They predicted China would overtake the United States in 2028, two years ago. The forecast was extended to 2030 a year ago. They now believe that China’s economy will not overtake the United States’ until 2036.

The analysis also indicated that Russia’s economy, which was the ninth largest in 2022, will likely fall to the 14th position by 2037, primarily as a result of the sanctions imposed on it in the wake of its invasion of Ukraine.

The World Economic League Table (WELT) is an annual calculation by CEBR and is published by CEBR. The base data is taken from the IMF’s World Economic Outlook, and the GDP forecast draws on CEBR’s Global Prospects model to forecast growth, inflation, and exchange rates.

Edited by Tanmoy Mitra

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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